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

S&P Global Ratings assigned its 'AAA' long-term rating and 'AA+' underlying rating to Hurst-Euless-Bedford Independent School District (ISD), Texas' $600 million series 2024 unlimited-tax school building bonds. At the same time, we affirmed our 'AA+' ratings on the district's existing GO debt. The outlook is stable. Revenue from an unlimited ad valorem tax levied on all taxable property in the district secures the bonds. Proceeds will be used to replace academic buildings and renovate some of the district's existing facilities as well as for safety and security enhancements and additional technology infrastructure. The 'AAA' rating reflects our view of the district's eligibility for, and participation in, the Texas Permanent School Fund bond guarantee program; more details can be found below.

... 2022 2021 2020 Required pension contribution % of governmental fund expenditures 1.5 1.5 1.1 OPEB actual contribution % of governmental fund expenditures 0.5 0.4 0.3 Minimum funding progress, largest pension plan (%) 81.5 86.8 68.7 EBI--Effective buying income. OPEB--Other postemployment benefits....

Summary