Summary: Temple Independent School District, Texas; School State Program

S&P Global Ratings has assigned its 'AAA' program rating and 'AA-' underlying rating for credit program to Temple Independent School District (ISD), Texas' series 2018 unlimited-tax school building bonds, and affirmed its 'AA-' underlying rating on the district's existing general obligation (GO) debt. The outlook is stable. The program rating reflects our assessment of the district's eligibility for, and participation in, the Texas Permanent School Fund (PSF) bond guarantee program. The 'AA-' underlying rating reflects our view of Temple ISD's: Stable tax base, anchored by a local economy that benefits from its location in central Texas and will likely experience modest growth over the next two to five years; Good income levels on a per capita basis, strong per capita

...S&P Global Ratings has assigned its '###' program rating and '##-' underlying rating for credit program to Temple Independent School District (ISD), Texas' series 2018 unlimited-tax school building bonds, and affirmed its '##-' underlying rating on the district's existing general obligation (GO) debt. The outlook is stable. The program rating reflects our assessment of the district's eligibility for, and participation in, the Texas Permanent School Fund (PSF) bond guarantee program. The '##-' underlying rating reflects our view of Temple ISD's: + Stable tax base, anchored by a local economy that benefits from its location in central Texas and will likely experience modest growth over the next two to five years; + Good income levels on a per capita basis, strong per capita market value, and low unemployment rates; and + Very strong reserve levels supported by good management. Offsetting these strengths, in our view, are the district's high overall net debt levels, and its need to issue additional...

Summary