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

S&P Global Ratings assigned its 'AA-' underlying rating and 'AAA' long-term rating to Temple Independent School District, Texas' anticipated $23.58 million series 2020 unlimited-tax refunding bonds. At the same time, S&P Global Ratings affirmed its 'AA-' underlying rating on the district's general obligation debt outstanding. The outlook is stable. The 'AAA' long-term rating reflects our view of the district's eligibility for, and participation in, the Texas Permanent School Fund (PSF) bond guarantee program, which provides the security of a permanent fund of assets the district can use to meet debt service on bonds guaranteed by the program. (For more information on the program rating, see our report on the Texas PSF, published June 25, 2020, on RatingsDirect.) The district's unlimited

...S&P Global Ratings assigned its '##-' underlying rating and '###' long-term rating to Temple Independent School District, Texas' anticipated $23.58 million series 2020 unlimited-tax refunding bonds. At the same time, S&P Global Ratings affirmed its '##-' underlying rating on the district's general obligation debt outstanding. The outlook is stable. The '###' long-term rating reflects our view of the district's eligibility for, and participation in, the Texas Permanent School Fund (PSF) bond guarantee program, which provides the security of a permanent fund of assets the district can use to meet debt service on bonds guaranteed by the program. (For more information on the program rating, see our report on the Texas PSF, published June 25, 2020, on RatingsDirect.) The district's unlimited ad valorem property tax pledge secures the bonds. Bond proceeds will be used to refund a portion of the district's outstanding bonds. After the refunding, the district will have about $170 million of tax-secured...

Summary