S&P Global Ratings assigned its 'AA-' underlying rating for credit program and 'AAA' long-term rating to Fort Stockton Independent School District (ISD), Texas' series 2016 general obligation (GO) bonds. At the same time, S&P Global Ratings affirmed its 'AA-' underlying rating on the district's existing GO 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 article on the Texas PSF, published July 7,
