Standard&Poor's Ratings Services assigned its 'AAA' program rating and 'A' underlying rating to Hitchcock Independent School District (ISD), Texas' series 2015 unlimited-tax school building and refunding bonds. At the same time, Standard&Poor's affirmed its 'A' underlying rating on the district's general obligation (GO) debt. The outlook is stable. The program rating reflects our assessment of the district's eligibility for, and participation in, the Texas Permanent School Fund, which provides the security of a permanent fund of assets the district can use to meet debt service on program-guaranteed bonds. The 'A' rating reflects our opinion of the district's: Location and participation in the strong Houston metropolitan statistical area (MSA) economy, as well as the strong local labor
