Summary: New Caney Independent School District, Texas; General Obligation; School State Program Jan 10

Standard & Poors, January 2010

Abstract
Standard & Poor's Ratings Services affirmed its 'AAA' enhanced program rating on New Caney Independent School District, Texas' existing general obligation (GO) debt. At the same time, Standard & Poor's affirmed its 'A' issuer credit rating (ICR) and underlying rating (SPUR) on the district's outstanding GO debt. The outlook is stable. The enhanced program rating reflects the security of the Texas Permanent School Fund guarantee. The ICR reflects the district's: Participation in the deep and diverse Houston MSA economy; Solid property tax base growth and good income levels; and Strong financial position, with good reserves fueled by good state support. These factors are offset, in part, by the district's: High debt burden, coupled with projected additional debt issuance to meet...

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

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

New Caney Indpt Sch Dist

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