DALLAS (Standard&Poor's) Dec. 2, 2009--Standard&Poor's Ratings Services raised its issuer credit rating (ICR) one notch to 'AA-' from 'A+' on Temple Independent School District, Texas. At the same time, Standard&Poor's affirmed its 'AAA' enhanced rating on the district's outstanding general obligation (GO) bonds. The outlook on all ratings is stable. "The raised rating is based on the district's historically very strong financial position," said Standard&Poor's credit analyst Lauren Spalten. The enhanced program rating reflects the credit enhancement provided by the Texas Permanent School Fund. We believe Temple Independent School District's financial position has historically been very strong. After posting four consecutive operating surpluses, the district had operating deficits of $794,000 in fiscal
