Fitch Ratings has assigned an 'AAA' rating to the
Prosper Independent School District, Texas' (the district) $14 million
unlimited tax school building bonds, series 2005, based on a guarantee
provided by the Texas Permanent School Fund, whose insurer financial
strength is rated 'AAA' by Fitch. An underlying rating of 'BBB+' has
been assigned to the bonds, as well as to the district's $60.6 million
in outstanding unlimited tax school building bonds. The bonds are
scheduled to sell via negotiation the week of July 18, 2005 through an
underwriting syndicate headed by RBC Dain Rauscher Inc. The Rating
Outlook is Stable.
For a full description of the financing, see the press release 'Fitch Rates $14MM Prosper ISD, Texas GO School Bonds 'BBB+' Underlying,' dated July 14, 2005, available on the Fitch Ratings web site at www.fitchratings.com.
Fitch's rating definitions are available on the agency's public web site, www.fitchratings.com. Published ratings, criteria and methodologies and relevant policies and procedures are also available from this site, at all times. This document will remain on the public site for seven days.
For a full description of the financing, see the press release 'Fitch Rates $14MM Prosper ISD, Texas GO School Bonds 'BBB+' Underlying,' dated July 14, 2005, available on the Fitch Ratings web site at www.fitchratings.com.
Fitch's rating definitions are available on the agency's public web site, www.fitchratings.com. Published ratings, criteria and methodologies and relevant policies and procedures are also available from this site, at all times. This document will remain on the public site for seven days.
© 2005 Business Wire
