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

S&P Global Ratings has assigned its 'AAA' long-term program rating and 'AA-' underlying rating to Temple Independent School District (ISD), Texas' series 2019 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 bonds are a direct obligation of the district, payable from an unlimited ad valorem tax levied on all taxable property within the district. Officials will use the bond proceeds for various facility improvements throughout the district. The program rating reflects our assessment of the district's eligibility for, and participation in, the Texas Permanent School Fund bond guarantee program. The district remains unaffected by the largest taxpayer, Panda Temple Power LLC, declaring bankruptcy as it

...S&P Global Ratings has assigned its '###' long-term program rating and '##-' underlying rating to Temple Independent School District (ISD), Texas' series 2019 unlimited-tax school building bonds, and affirmed its '##-' underlying rating on the district's existing general obligation (GO) debt. The outlook is stable. The bonds are a direct obligation of the district, payable from an unlimited ad valorem tax levied on all taxable property within the district. Officials will use the bond proceeds for various facility improvements throughout the district. The program rating reflects our assessment of the district's eligibility for, and participation in, the Texas Permanent School Fund bond guarantee program. The district remains unaffected by the largest taxpayer, Panda Temple Power LLC, declaring bankruptcy as it has continued to pay on its obligations to the district and has not sought to decrease values at the plant. The district continues to benefit from its location along Interstate 35...

Summary