S&P raises Allen, Texas, ISD's G.O. rating to AA-

Standard & Poor's said it increased the rating of Allen Independent School District, Texas' general obligation debt to AA- from A+.

S&P assigned an AAA program rating and an AA- ICR rating and stable outlook to the district's $22.34 million of series 2008 unlimited-tax G.O. school building bonds.

The agency also said it affirmed its AAA program rating on the district's G.O. debt.

About $267 million of outstanding debt was affected by the rating action, S&P said in its announcement.

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