S&P Global Ratings assigned its 'AA-' underlying rating and 'AAA' long-term rating to Fort Stockton Independent School District, Texas' series 2017 unlimited tax building bonds. At the same time, S&P Global Ratings affirmed its 'AA-' underlying rating on the district's existing general obligation (GO) debt. The outlook 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. The 'AA-' rating reflects our opinion of the district's: Strong market value per capita, Very strong financial position, and Moderate debt burden supported
