Summary: Lone Oak Independent School District, Texas; School State Program

S&P Global Ratings assigned its 'AAA' long-term rating and 'A+' underlying rating , with a stable outlook, to Lone Oak Independent School District, Texas' approximately $35.5 million series 2022 unlimited-tax general obligation (GO) school building bonds. At the same time, we affirmed our 'A+' long-term rating, with a stable outlook, on the district's existing GO-backed debt. The long-term rating reflects our view of 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 could use to meet debt service on bonds guaranteed by the program. (For more information, see "Texas Permanent School Fund," published June 25, 2021, on RatingsDirect.) An unlimited ad valorem

...S&P Global Ratings assigned its '###' long-term rating and 'A+' underlying rating , with a stable outlook, to Lone Oak Independent School District, Texas' approximately $35.5 million series 2022 unlimited-tax general obligation (GO) school building bonds. At the same time, we affirmed our 'A+' long-term rating, with a stable outlook, on the district's existing GO-backed debt. The long-term rating reflects our view of 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 could use to meet debt service on bonds guaranteed by the program. (For more information, see "Texas Permanent School Fund," published June 25, 2021, on RatingsDirect.) An unlimited ad valorem tax levied on all taxable property within the district secures the GO bonds. Officials intend to use series 2022 bond proceeds for the construction, improvement, and renovation of school facilities, and to...

Summary