File photo
File photo
FORT WORTH – Fitch Ratings has given a AAA rating to the Northwest Independent School District’s $185.99 million unlimited tax school building and refunding bonds, as well as re-affirming the AA rating for the school district's other bonds.
The AA rating applies to the school district’s approximately $900 million in outstanding unlimited tax bonds and the school district’s issuer default rating, according to the Fitch Ratings website.
Fitch stated that the ratings outlook is stable for the school district.
“The bonds are scheduled to price during mid-April,” the Fitch report reads. “The majority of bond proceeds will be used to finance the construction of instruction facilities; while roughly $13 million will be used to convert the district's remaining variable rate debt authorization into fixed rate bonds.”
The full report, detailing security, economic resource base, key rating drivers and rating sensitivities, among other factors and details, can be found at the Fitch Ratings website.
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