Standard&Poor's Ratings Services assigned its 'AAA' program rating and 'A+' underlying rating for credit program to Sweetwater Independent School District (ISD), Texas' series 2016 unlimited tax refunding bonds. At the same time, Standard&Poor's affirmed its 'A+' underlying rating on the district's previously issued general obligation (GO) debt. The outlook on both ratings is stable. The long-term program rating reflects the district's qualification for, and the guarantee provided by, the Texas Permanent School Fund. The program provides the security of a permanent fund of assets that could be used to meet debt service on bonds guaranteed by the program. For more information on the program rating, please see our full analysis published July 7, 2015, on RatingsDirect.
