Summary: Plano Indpt Sch Dist, TX; Tax Secured, School State Program Jun 05

Standard & Poors, June 2005

Abstract
Standard & Poor's Ratings Services assigned its 'AAA' enhanced rating and 'AA' Standard & Poor's underlying rating (SPUR), and stable outlook, to Plano Independent School District, Texas' series 2005 unlimited-tax GO refunding bonds. The enhanced rating reflects the Texas Permanent School Fund guarantee. The SPUR reflects the district's: Diverse economy and location in the Dallas-Fort Worth MSA; Sound financial performance with strong reserve levels; and Large, but manageable, capital improvement plan. Pressures related to the Texas school finance system are an offsetting credit factor. The district's full faith and credit pledge secures the bonds. Plano Independent School District is in southwestern Collin County, 20 miles north of downtown Dallas, Texas. The district serves Plano, Texas and portions of Richardson, Texas...

Companies mentioned in this report are:
- Plano Indpt Sch Dist

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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.

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.

- Plano Indpt Sch Dist

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