S&P rates Houston I.S.D. schoolhouse bonds AAA

Standard & Poor's said it assigned its AAA program rating and AA+ issuer credit rating and stable outlook to Houston Independent School District's $400 million of series 2008 limited-tax general obligation schoolhouse bonds.

The program rating reflects support from the Texas Permanent School Fund.

Concurrently, S&P said it raised its standard long-term rating, underlying rating and issuer credit rating to AA+ from AA on the district's general obligation debt. The outlook is stable.

S&P also raised its underlying rating on the district's lease debt to AA from AA-. The outlook on that rating is also stable.

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