S&P Global Ratings assigned its'AA+'long-term rating to Hurst-Euless-Bedford Independent School District (ISD), Texas'estimated $200 million series 2026A unlimited tax school building bonds. The outlook is stable. Revenue from an unlimited ad valorem tax levied on all taxable property in the district secures the bonds. Proceeds will fund a portion of two high school rebuilds that are under construction. The rating reflects our view of Hurst-Euless-Bedford ISD's very strong reserves, history of positive operating results, stable enrollment, and sizable tax base. We consider the maintenance of reserves key to the rating, given that the district's debt is already elevated and will increase further given the planned issuance of the remaining voter authorization of nearly $200 million in late
