Fitch gives Aledo I.S.D. bonds AAA

Fitch Ratings said it assigned an AAA rating to Aledo Independent School District's $61 million series 2008 unlimited tax school building bonds based on the guaranty of the Texas Permanent School Fund.

The bonds are scheduled for a negotiated sale July 8.

Proceeds will be used to finance school facilities, purchase school buses, pay capitalized interest and pay costs of issuance.

Fitch assigned an underlying rating of A to the series 2008 bonds and upgraded the underlying rating to A from A- on the district's approximately $93 million in outstanding unlimited tax bonds. The outlook is stable.

The upgrade reflects the district's proven ability to maintain strong financial reserves in light of ongoing operating and capital pressures, Fitch said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.