S&P ups Mansfield I.S.D., Texas, to AA, rates bonds AAA

Standard & Poor's said it raised its issuer credit rating on Mansfield Independent School District, Texas' general obligation debt to AA from AA-, based on the city's consistently strong financial performance, supported by strong financial policies and practices. The outlook is stable.

At the same time, S&P assigned its AAA enhanced program rating and AA issuer credit rating, with a stable outlook, to the district's $80 million series 2008 unlimited-tax G.O. school building bonds.

The AAA program rating reflects the Texas Permanent School Fund guarantees of security, and affects about $634 million in outstanding debt.

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