Standard&Poor's Ratings Services raised its issuer credit rating (ICR) on Bishop Consolidated Independent School District, Texas' general obligation (GO) debt to 'A' from 'BBB'. Standard&Poor's also assigned its 'A' ICR to the district's series 2008 bonds, which were issued in February, and affirmed its 'AAA' enhanced rating. The outlook on the ratings is stable. The upgrade is due to continued tax-base growth and maintenance of a strong financial position. The enhanced rating is based on the strength and liquidity of the Texas Permanent School Fund Guarantee. In our opinion, the ICR reflects the district's: Healthy assessed valuation (AV) growth and an extremely strong market value per capita due to the presence of the petrochemical industry in
