...The 'AA+' Issuer Default Rating (IDR) reflects Hurst-Euless-Bedford Independent School District's diverse economic resource base and healthy overall financial profile. The district's strong operating profile is supported by a solid level of expenditure flexibility, expectations for robust revenue growth and superior gap-closing capacity. Based on limited debt plans, ample instructional capacity, and reliance on pay-go for major renovation and repair needs, Fitch Ratings expects the long-term liability burden to remain moderate, despite expected moderate increases in overlapping debt. Economic Resource Base: The district is located along a key transit corridor in the heart of the broad, diverse and fundamentally strong Dallas-Fort Worth (DFW) metro economy. The district's residential base is complemented by industrial and commercial sectors that include aviation (the corporate headquarters of American Airlines and helicopter manufacturer Bell Helicopter), healthcare and retail (Northeast...
