S&P rates Texas Higher Education bonds AA

Standard & Poor's said it assigned an AA rating to Texas Higher Education Coordinating Board's general obligation college student loan bonds and refunding bonds, supported by Texas.

The bonds consist of $73.985 million series 2008A bonds, $45.72 million series 2008C bonds and $28.04 million series 2008B bonds. They are due Feb. 1, 2030 and are expected to settle on June 18.

The outlook is stable.

Proceeds from the series 2008A bond will be used to fund an ongoing program that provides low-interest loans to eligible students at statewide higher learning institutions. The series 2008B and 2008C bond proceeds will be used to refund a portion of outstanding debt.

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