...Analytical Conclusion: The 'AA¡' Issuer Default Rating (IDR) and unlimited tax bond rating are based on New Caney Independent School District's (the district) strong operating performance, supported by robust revenue growth prospects, solid expenditure flexibility and modest revenue volatility. Long-term liabilities are expected to remain elevated but within the moderate range given the district's capital plans to accommodate a rapidly growing population and enrollment base. Economic Resource Base: The district is situated about 25 miles northeast of Houston's central business district in Montgomery and Harris counties. Rapid population growth has been spurred by the extension of major transportation corridors that facilitate access to the northeastern portion of the Houston MSA. Enrollment in fiscal 2019 totals about 15,400, reflective of steady and strong enrollment expansion averaging more than 5% annually for the past decade....
