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Moody's gives Aaa to Beaumont I.S.D. bonds
Moody's Investors Service assigned an A1 underlying rating and an Aaa enhanced rating to the $74.82 million series 2008 unlimited tax school building and refunding bonds issued by Beaumont Independent School District, Texas.
The sale date was July 17.
About $65 million of the proceeds will be used for new facility construction, renovations and equipment, and $9.8 million will be used to refund a portion of the district's outstanding adjustable-rate debt.
The enhanced rating is based on the guarantee of the Texas Permanent School Fund.
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