Standard&Poor's Rating Services affirmed its 'A' rating on Bishop Consolidated Independent School District (ISD), Texas' unlimited-tax school building bonds. The outlook is stable. The 'A' underlying rating reflects our opinion of the district's: Good wealth and income levels and very strong market value per capita due to the petrochemical industry in the area; and Strong financial position despite recent planned reserve reductions. In our opinion, the district's credit strengths are limited by some volatility in the tax base due to concentration in the petrochemical industry and a moderately high overall debt burden. An unlimited ad valorem tax levied on all taxable property in the district secures the bonds. With a population of 5,642, Bishop Consolidated ISD serves the
