Summary: Hurst-Euless-Bedford Independent School District, Texas; General Obligation; School State Program

S&P Global Ratings assigned its 'AAA' long-term program rating and its 'AA+' underlying rating to Hurst-Euless-Bedford Independent School District (ISD), Texas' series 2019 unlimited-tax school building bonds. At the same time, we affirmed our 'AA+' rating on the district's general obligation (GO) bonds outstanding. The outlook is stable on all ratings. The program 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 the district can use to meet debt service on bonds guaranteed by the program. (For more information on the program rating, see our full analysis on the Texas PSF, published June 8, 2018 on RatingsDirect.) The

...S&P Global Ratings assigned its '###' long-term program rating and its '##+' underlying rating to Hurst-Euless-Bedford Independent School District (ISD), Texas' series 2019 unlimited-tax school building bonds. At the same time, we affirmed our '##+' rating on the district's general obligation (GO) bonds outstanding. The outlook is stable on all ratings. The program 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 the district can use to meet debt service on bonds guaranteed by the program. (For more information on the program rating, see our full analysis on the Texas PSF, published June 8, 2018 on RatingsDirect.) The bonds are secured by an unlimited-ad valorem tax levied on all taxable property in the district. Bond proceeds will be used to fund the construction of two elementary campuses, renovations to five junior high schools, and...

Summary