Standard&Poor's Ratings Services assigned its 'AAA' long-term rating and 'A' underlying rating for credit program to Bishop Consolidated Independent School District (ISD), Texas' series 2016 unlimited-tax refunding bonds. At the same time, Standard&Poor's affirmed its 'A' underlying rating for credit program on the district's existing general obligation debt. The outlook on all ratings is stable. The long-term rating reflects our view of the district's eligibility for, and participation in, the Texas Permanent School Fund (PSF) bond guarantee program, which provides the security of a permanent fund of assets that the district can use to meet debt service on bonds guaranteed by the program. (For more information on the program rating, please see our full analysis on
