Summary: San Benito Consolidated Independent School District, Texas; School State Program Apr 12

Standard & Poors, April 2012

Abstract
Standard & Poor's Ratings Services assigned its 'AAA' program rating and 'A' school issuer credit rating (ICR) and stable outlook to San Benito Consolidated Independent School District, Texas' series 2012 unlimited-tax general obligation (GO) refunding bonds and affirmed its 'AAA' program rating and 'A' ICR, with a stable outlook, on the district's existing GO debt. The 'AAA' program rating reflects the credit strength and liquidity of the Texas Permanent School Fund Program. The ICR reflects our opinion of the district's: Continuing property tax base expansion, Strong finances, and Receipt of strong state support for operations and debt service. We believe what we consider the district's low wealth and adequate income somewhat weaken these strengths. An ad valorem pledge on all...

Companies mentioned in this report are: San Benito Cons Indpt Sch Dist ,Texas Perm Sch Fd
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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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.

San Benito Cons Indpt Sch Dist ,Texas Perm Sch Fd

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