CUSIP 2417216W4

  • ISIN: US2417216W46
  • Entity Name: DeSoto Independent School District
  • Sector: Municipal Agency
  • Announcement Date: *****
  • Effective Date: *****
  • Issue Date: *****
  • Maturity Date: *****
  • Country of Issuer: *****
  • Region: N.Amer
  • Issue Currency: *****
  • CA Type: Rating Downgrade
  • News: Fitch Ratings has downgraded the rating on the following DeSoto Independent School District (ISD), Texas bonds to `A+` from `AA`: --Approximately $59.8 million outstanding ULT bonds; --Long-Term Issuer Default Rating (IDR). The ratings are placed on Rating Watch Negative. ANALYTICAL CONCLUSION The rating downgrade to `A+` and Rating Watch Negative reflect a notable weakening in operating performance. The district`s severe operating and debt service shortfalls that have led to the need to issue debt to pay for operations. Fitch expects to resolve the Rating Watch Negative after obtaining additional information from district representatives on plans to rectify the shortfall in the coming months. The `A+ ` rating continues to be supported by Fitch`s expectation that carrying costs and long-term liabilities will remain a moderate burden, even as the district issues additional debt to cover operations. The district`s revenue growth prospects are expected to remain strong, especially as the state legislature plans to increase school funding during the current session. Economic Resource Base The district benefits from its location within the stable and diverse economy and employment base of the Dallas-Fort Worth (DFW) metro area, just south of the city of Dallas. Fitch views the district`s long-term economic prospects as favorable, given ongoing growth in the resource base.
  • Description: *****
  • Bond Document:
  • Latest Corporate Actions:

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