Summary: Lubbock Independent School District, Texas; School State Program Oct 10

Standard & Poors, October 2010

Abstract
Standard & Poor's Ratings Services assigned its 'AAA' enhanced program rating and 'AA' school issuer credit rating (ICR), and stable outlook, to Lubbock Independent School District, Texas' series 2010 unlimited-tax general obligation (GO) refunding bonds and affirmed its 'AAA' enhanced program rating and 'AA' ICR, with a stable outlook, on the district's existing GO debt. The 'AAA' enhanced program rating reflects the Texas Permanent School Fund guarantee. The ICR reflects our view of the district's: Diverse local economy that serves as an economic center for the Texas Panhandle, anchored by health care, higher education, and a growing commercial sector; Historically strong financial performance trend, evidenced by maintaining very strong reserves; Good financial management policies and practices; and Low overall net...

Companies mentioned in this report are: Lubbock Indpt Sch Dist,Texas Perm Sch Fd
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.

Lubbock Indpt Sch Dist,Texas Perm Sch Fd

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