Hurst-Euless-Bedford Independent School District, TX $600M School Building Bonds Assigned 'AA+' Rating; Outlook Stable

ENGLEWOOD (S&P Global Ratings) Feb. 16, 2024--S&P Global Ratings assigned its 'AAA' long-term rating and 'AA+' underlying rating to Hurst-Euless-Bedford Independent School District (ISD), Texas' $600 million series 2024 unlimited-tax school building bonds. At the same time, we affirmed our 'AA+' ratings on the district's existing GO debt. The outlook is stable. "The rating incorporates our view of the district's very strong reserves, moderately high and escalating debt burden, history of positive operating results, stable enrollment, and sizeable tax base," said S&P Global Ratings credit analyst Alex Swanson. Revenue from an unlimited ad valorem tax levied on all taxable property in the district secures the bonds. Proceeds will be used to replace academic buildings and renovate some of the district's

...February 16, 2024 ENGLEWOOD (S&P Global Ratings) Feb. 16, 2024--S&P Global Ratings assigned its '###' long-term rating and '##+' underlying rating to Hurst-Euless-Bedford Independent School District (ISD), Texas' $600 million series 2024 unlimited-tax school building bonds. At the same time, we affirmed our '##+' ratings on the district's existing GO debt. The outlook is stable. "The rating incorporates our view of the district's very strong reserves, moderately high and escalating debt burden, history of positive operating results, stable enrollment, and sizeable tax base," said S&P Global Ratings credit analyst Alex Swanson. Revenue from an unlimited ad valorem tax levied on all taxable property in the district secures the bonds. Proceeds will be used to replace academic buildings and renovate some of the district's existing facilities as well as for safety and security enhancements and additional technology infrastructure. The '###' rating reflects our view of the district's eligibility...

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