Summary: Celina Independent School District, Texas; School State Program

S&P Global Ratings assigned its 'A+' underlying rating and 'AAA' long-term program rating to Celina Independent School District, Texas' anticipated $30 million unlimited-tax school building bonds, series 2020. The outlook is stable. The bonds are payable from an unlimited ad valorem tax levied against all taxable property within the district. We understand the bond proceeds will be used to construct a new middle school. After this issuance, the district will have about $162 million of general obligation bonds outstanding. The 'AAA' 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 the district can use to meet debt

...S&P Global Ratings assigned its 'A+' underlying rating and '###' long-term program rating to Celina Independent School District, Texas' anticipated $30 million unlimited-tax school building bonds, series 2020. The outlook is stable. The bonds are payable from an unlimited ad valorem tax levied against all taxable property within the district. We understand the bond proceeds will be used to construct a new middle school. After this issuance, the district will have about $162 million of general obligation bonds outstanding. 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 the district can use to meet debt service on bonds guaranteed by the program. (For more information on the program rating, see our report on the Texas PSF, published June 7, 2019, on RatingsDirect.)...

Summary