The 'AAA' enhanced rating on Bishop Consolidated Independent School District, Texas' GO bonds is based on the strength and liquidity of the Texas Permanent School Fund Guarantee. The 'BBB' issuer credit rating (ICR) on the bonds reflects the district's: Local economy and tax base that are highly concentrated in the petrochemical industry; and Historical trend of diminishing assessed value (AV), which has recently demonstrated some growth. These factors are mitigated by the district's: Solid financial position with healthy reserves, and Low overall debt burden coupled with limited future capital needs. The district serves the City of Bishop (population 4,829), and is four miles northeast of Kingsville in Nueces County. Student enrollment has stabilized over the past two years at roughly
