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Boerne Independent School District, Texas; Tax Secured, School State Program Nov 04
Standard & Poors, Nov 2004
Abstract
Standard & Poor's Ratings Services assigned its 'AAA' enhanced rating and 'A+' Standard & Poor's underlying rating (SPUR), and stable outlook, to Boerne Independent School District, Texas' series 2004 unlimited-tax GO school building bonds. The enhanced rating reflects the security of the Texas permanent school fund guarantee. The SPUR reflects the district's: Location to the growing San Antonio MSA economic area, leading to strong property tax base growth; Above-average income levels; Taxing flexibility under the state's taxing cap for operating and maintenance; and Sound financial performance despite growth pressures. Mitigating credit factors include the district's: Moderate overall debt burden, and High carrying charges and slow debt service amortization. The district's GO pledge secures the bonds. Boerne Independent School District, with...
Companies mentioned in this report are: Boerne Indpt Sch Dist
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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