Fitch Rates $17.2MM Pilot Point ISD, TX ULT GOs 'AAA' PSF.Business Editors AUSTIN--(BUSINESS WIRE)--Oct. 2, 2003 Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. has assigned a 'AAA' rating to the $17.2 million unlimited tax school building and refunding bonds refunding bond A bond that is issued for the purpose of retiring an outstanding bond. Issuers refund bond issues to reduce financing costs, eliminate covenants, and alter maturities. See also crossover refunding bonds, prerefunding. , series 2003 of Pilot Point Independent School District Pilot Point Independent School District is a public school district based in Pilot Point, Texas (USA). Located in Denton County, portions of the district extend into Cooke and Grayson counties. (ISD See IDD. ), Texas based on an approval for a guarantee by the Texas Permanent School Fund (PSF (Print Services Facility) Software from IBM that performs the printer rasterization for IBM's AFP and other page description languages. PSF products are available for IBM mainframes, AS/400 and RS/6000 series and output the IPDS format for IBM printers. ). Fitch rates the PSF's insurer financial strength 'AAA'. The series 2003 bonds sold Sept. 30 via negotiation to a syndicate managed by First Southwest Company. In addition, Fitch assigned an 'A' underlying rating to the bonds on Sept. 29 and to the district's $3.5 million in unlimited tax school bonds outstanding, both with a Stable Rating Outlook. For more information on Pilot Point ISD, please see Fitch's press release, dated September 29, 2003, 'Fitch Assigns Initial 'A-' Rating to Pilot Point ISD, TX GOs', available on Fitch Ratings' web site at www.fitchratings.com. For further information on the PSF, please see Fitch's reports 'Credit Analysis on Texas Permanent School Fund' or 'Credit Update on Texas Permanent School Fund', both dated July 10, 2003 and available on Fitch Ratings' web site at 'www.fitchratings.com' under Highlight Reports in the U.S. Public Finance sector. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion