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Bushland Independent School District, TX's Strong Reserves, Tax Base Expansion Boost GO Rating Three Notches To 'A+' Sep 09
Standard & Poors, Sep 2009
Abstract
DALLAS (Standard & Poor's) Sept. 3, 2009--Standard & Poor's Ratings Services raised its issuer credit rating (ICR) on Bushland Independent School District, Texas' general obligation (GO) debt three notches to 'A+' from 'BBB+' based on the district's maintenance of strong financial reserves and continued property tax base expansion. The outlook is stable. The rating service also assigned its 'A+' long-term rating, and stable outlook, to the district's $9.1 million series 2009 unlimited-tax GO school building bonds. In addition, Standard & Poor's affirmed its 'AAA' program rating, with a stable outlook, on the district's GO debt. The 'AAA' program rating reflects the Texas Permanent School Fund guarantee. The upgrade also reflects Standard & Poor's view of the reduced significance that size...
Companies mentioned in this report are: Bushland Indpt Sch Dist,Texas Perm Sch Fd
Action: New Rating
Action: Outlook: Stable
Action: Upgraded
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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