S&P Global Ratings assigned its 'AAA' long-term rating (based on credit enhancement) and 'A' underlying rating to Bishop Consolidated Independent School District , Texas' $15.76 million unlimited-tax refunding bonds, series 2025. At the same time, S&P Global Ratings affirmed its 'A' underlying rating on the district?s general obligation debt outstanding. The outlook is stable. The bonds are secured by an unlimited ad valorem tax levied annually against all taxable property within the district. Bond proceeds will be used to refund the district's series 2017 unlimited tax school building bonds. The rating reflects our view of the district's concentrated tax base, strong reserve position, and weak financial performance. The roughly 170-square-mile district is in Nueces County, and the city of Bishop
