S&P Global Ratings affirmed its'A'underlying rating on City View Independent School District (ISD), Texas'outstanding unlimited-tax general obligation (GO) debt and maintenance tax notes. The outlook is stable. The GO debt is secured by an unlimited ad valorem tax, levied on all taxable property within the district. The maintenance tax notes are secured by a limited, direct annual ad valorem tax levied for maintenance purposes. We do not make a rating distinction between the district's limited- and unlimited-tax debt because the property tax base is coterminous with the district and we see no unusual risk regarding resource fungibility. The rating reflects our view of City View's steady enrollment and healthy liquidity. In our view, the district's fluctuating operating
