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Avalon Independent School District, TX's Bonds Rated 'AAA' Sep 01
Standard & Poors, Sep 2001
Abstract
DALLAS (Standard & Poor's) Sept. 14, 2001-Standard & Poor's has assigned its triple-'A' rating to Avalon Independent School District, Texas' $1.5 million unlimited tax school building bonds series 2001. The bonds are scheduled to sell Sept. 19, 2001. The outlook is stable. The rating reflects the credit enhancement provided by the Texas Permanent School Fund. The Permanent Fund, under Article VII, Section 5 of the constitution, permits the use of its endowment to ensure bondholders of timely debt service payments. In the event of a potential default, the school district must notify the commissioner not later than five days before the maturity date of the guaranteed debt. The commissioner will then pay debt service to the paying agent and direct...
Companies mentioned in this report are: Avalon 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: 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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