Standard&Poor's Ratings Services assigned its 'AAA' long-term and enhanced program rating and 'A' issuer credit rating (ICR) to Hitchcock Independent School District, Texas' series 2011 unlimited-tax school building and taxable series 2011Q unlimited tax qualified school construction bonds (QSCBs). At the same time, we affirmed our 'A' ICR on the district's general obligation (GO) debt. We also affirmed our 'AAA' enhanced rating on the district's previously issued GO bonds. The outlook on all ratings is stable. The 'AAA' enhanced program rating reflects the district's eligibility for, and participation in, the Texas Permanent School Fund bond guarantee program, which provides the security of a permanent fund of assets the district can use to meet debt service on bonds guaranteed
