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Burkburnett Independent School District, TX's Strong Finances Lift GO Debt Rating Two Notches To 'A' Dec 09
Standard & Poors, Dec 2009
Abstract
DALLAS (Standard & Poor's) Dec. 15, 2009--Standard & Poor's Ratings Services raised its issuer credit rating (ICR) on Burkburnett Independent School District, Texas' general obligation (GO) debt two notches to 'A' from 'BBB+' based on the district's sustained strong financial position. The outlook is stable. Simultaneously, the rating service affirmed its 'AAA' enhanced program rating, with a stable outlook, on the district's debt, reflecting the district's eligibility for, and participation in, the Texas Permanent School Fund bond guarantee program, which provides the security of a permanent fund of assets the district can use to meet debt service on bonds guaranteed by the program. The ICR reflects the district's strong financial position and low overall net debt burden. The rating is...
Companies mentioned in this report are: Burkburnett Indpt Sch Dist,Texas Perm Sch Fd
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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