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

S&P Global Ratings assigned its 'AAA' program rating and 'A' underlying rating to Hitchcock Independent School District (ISD), Texas' series 2018 unlimited-tax refunding bonds. At the same time, S&P Global Ratings affirmed its 'A' underlying rating on the district's general obligation (GO) debt outstanding. The outlook is stable. Revenue from an unlimited ad valorem tax levied on all taxable property in the district secures the bonds as well as the district's GO debt outstanding. Official are using proceeds to refund existing long-term debt for expected net present value savings, with no extension of maturity. The program rating reflects our assessment of the district's qualification for, and the guarantee provided by, the Texas Permanent School Fund (PSF) bond guarantee program. The

...Hitchcock ISD serves an estimated population of 11,115. Median household effective buying income (EBI) is 87% of the national average, and per capita EBI is 81% of the national average, both of which we consider adequate. Market...

Summary