...Analytical Conclusion: The 'AA+' Issuer Default Rate (IDR) reflects the Coppell Independent School District's (the district) high level of operating flexibility and anticipated financial resilience through the economic cycle due to a combination of its solid budgetary controls and established reserves. Fitch Ratings expects long-term revenue gains to remain strong given robust local economic expansion and demographic trends. Long-term liabilities and fixed costs may increase as a result of future debt issuances but are expected to remain within Fitch's moderate range. Economic Resource Base: The district serves the city of Coppell (located 18 miles northwest of downtown Dallas) and small portions of the cities of Dallas and Irving in northwest Dallas County. The district's 2017 population is estimated at 49,370 and median household income is twice as high as the U.S. average. The district's current average daily attendance (ADA) reflects a 10-year compound average annual growth of 2.5%,...
