Standard&Poor's Ratings Services assigned its 'AAA' program rating and 'BBB' issuer credit rating (ICR), and stable outlook, to Sweetwater Independent School District, Texas' series 2008 unlimited-tax general obligation (GO) bonds. The 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 that management can use to meet debt service on bonds guaranteed by the program. The ICR reflects the district's: Primarily rural economy with low income levels, Above-average property tax base concentration from wind-energy-related developers, and High overall net debt burden per market value. These credit factors are offset, in part, by the district's: Stable financial position with good reserves,
