|
|
Article: Fitch Rates Comal ISD, Texas' $55.9MM ULT Bonds 'AA-'; Upgrades Outstanding Debt.
- Article from:
- Investment Weekly News
- Article date:
- November 14, 2009
CopyrightCOPYRIGHT 2009 NewsRX. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Fitch Ratings assigns its 'AA-' rating to Comal Independent School District (ISD), Texas' (the district) approximately $55.85 million unlimited tax (ULT) school building bonds, series 2009. In addition, Fitch upgrades the district's approximately $488 million in outstanding unlimited tax bonds to 'AA-' from 'A+'. Scheduled to sell on Oct. 29, 2009 via negotiation, the bonds are direct obligations of the district, payable from and secured by an unlimited ad valorem tax levied against all taxable property within the district. The Rating Outlook is Stable.
The upgrade to 'AA-' reflects the district's ability to build and maintain solid general fund reserve levels ...