Report title: Summary: Harlandale Independent School District, Texas; School State Program
from S&P Credit Research
1139 word report published Feb 15, 2007

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Abstract: Standard&Poor's Ratings Services assigned its 'AAA' enhanced rating and 'A-' issuer credit rating (ICR) to Harlandale Independent School District, Texas' unlimited-tax refunding bonds series 2007. The 'AAA' long-term rating reflects the security of the Texas Permanent School Fund guarantee. The ICR reflects the district's: Below-average income levels, High debt with a slow principal amortization schedule, and Continuing structural budgetary challenges despite an operational surplus in fiscal 2006. These rating weaknesses are offset by the district's: Participation in the diverse San Antonio employment base, and Significant state operating and debt service support. The bonds are secured by unlimited ad valorem taxes. District officials will use bond proceeds to refund a portion of the district debt for savings. Harlandale Independent

Brief Excerpt: RESEARCH Ratings Definitions Summary: Harlandale Independent School District, Texas; School State Program Publication date: 15-Feb-2007 Current Ratings >> Credit Profile US$37.675 mil unltd tax rfdg bnds ser 2007 dtd 02/15/2007 due...

Report Type: Summary
Issuer: Harlandale Indpt Sch Dist
Sector: Public Finance
Country: United States
Region: United States
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