Standard&Poor's Ratings Services assigned its 'AAA' long-term enhanced program enhanced rating and 'A' issuer credit rating (ICR) to Hitchcock Independent School District, Texas' series 2012 unlimited-tax refunding bonds. At the same time, Standard&Poor's affirmed its 'A' ICR on the district's general obligation (GO) debt. We also affirmed our 'AAA' enhanced rating on the district's previously issued GO bonds. The outlook on all ratings is stable. The 'AAA' enhanced program rating reflects the district's eligibility for, and participation in, the Texas Permanent School Fund 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. The 'A' rating reflects our opinion
