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Fitch Rates Dallas County Community College District, Texas' $110MM GOs 'AAA'.

Publication: Wireless News
Publication Date: 04-MAY-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Fitch Ratings assigned a rating of 'AAA' to Dallas County Community College District, Texas' (the district) $110 million general obligation (GO) bonds, series 2009.

In addition, Fitch affirms the 'AAA' rating on the approximately $25 million in maintenance tax notes and $273 million in outstanding parity bonds. The Rating Outlook is Stable.

Scheduled for a negotiated sale the week of May 4, the bonds are secured by the proceeds of a limited ad valorem tax levied against all taxable property within the district. State statute limits a community college district's debt service tax rate to no more than $0.50 per $100 taxable assessed valuation (TAV).

The 'AAA' rating for the district is based on diversified revenue sources, a substantial population and tax base with steady growth, and a large, steady enrollment base which has recently experienced higher than average levels of growth, drawn primarily...

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