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Article: Fitch Upgrades Pilot Point ISD, Texas' GOs to 'BBB+'; Outlook Stable.
- Article from:
- Investment Weekly News
- Article date:
- November 21, 2009
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As part of ongoing surveillance, Fitch Ratings has upgraded its rating to 'BBB+' from 'BBB' on Pilot Point Independent School District (ISD), Texas' (the district) approximately $19 million of outstanding unlimited tax school building bonds, series 2003 and 2005 (the bonds). The Rating Outlook is Stable.
The rating upgrade recognizes the district's commitment to maintaining the fiscal stability it has recently attained following a dramatic weakening in financial position. The 'BBB+' rating further considers the district's moderately high debt burden and slow principal amortization balanced against a lack of additional capital needs or borrowing plans, a small tax ...
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