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Summary: Garland Indpt Sch Dist, TX; Tax Secured, General Obligation; Tax Secured, School State Program Oct 04 Product Image

Summary: Garland Indpt Sch Dist, TX; Tax Secured, General Obligation; Tax Secured, School State Program Oct 04

  • Published: October 2004
  • Standard & Poors

FEATURED COMPANIES

Abstract
Standard & Poor's Ratings Services assigned its 'AAA/A-1+' rating to Garland Independent School District, Texas' series 2004B variable-rate unlimited-tax GO school building bonds. The long-term rating component is based on the Texas Permanent School Fund ('AAA') guarantee and the short-term rating component is based on an SBPA provided by Depfa Bank PLC, New York Agency ('AA-/A-1+'). The bonds will bear interest at an initial rate until June 15, 2005. At the end of the initial rate period, the bonds are subject to mandatory tender. Following the initial rate period, the bonds will bear interest at any rate for any rate period pursuant to the district's written direction. The bonds are not subject to optional tender during the initial rate mode....

Companies mentioned in this report are: Garland Indpt Sch Dist
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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Garland Indpt Sch Dist

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