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Fitch Rts $13.6MM Mesquite ISD, TX ULT Refs 'AAA' PSF.

Business Editors

AUSTIN, Texas--(BUSINESS WIRE)--Dec. 8, 2003

Fitch Ratings has assigned a 'AAA' rating to the $13.6 million unlimited tax refunding bonds, series 2004 of Mesquite Independent School District (ISD), Texas based on an approval for a guarantee by the Texas Permanent School Fund (PSF). Fitch rates the PSF's insurer financial strength 'AAA'. In addition, Fitch has assigned an underlying rating of 'AA' to the current offering and affirmed the 'AA' underlying rating on the district's $403.7 million in unlimited tax school bonds outstanding, both with a Stable Rating Outlook.

For more information on Mesquite ISD, please see Fitch's press release from earlier today, "Fitch Rates $13.6MM Mesquite ISD, TX ULT Refs 'AA' Und," 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.
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Publication:Business Wire
Date:Dec 8, 2003
Words:180
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