S&P Global Ratings assigned its ?AAA? long-term rating (based on credit enhancement) and ?A? underlying rating to Frost Independent School District (ISD), Texas? approximately $21.7 million series 2025 unlimited-tax school building bonds. At the same time, S&P Global Ratings affirmed its 'A' underlying rating on the district's general obligation debt outstanding. The outlook on the underlying rating is stable. The rating is based on the application of our ? Methodology For Rating U.S. Governments ,? Sept. 9, 2024. The bonds are secured by an unlimited ad valorem tax levied annually against all taxable property within the district. The long-term enhanced rating reflects our view of the district's eligibility for, and participation in, the Texas Permanent School Fund bond guarantee program.
