Fitch Rates Dallas County Community College District, Texas' $220MM Ltd. GOs 'AAA'

AUSTIN, Texas - (Business Wire) Fitch Ratings assigns a rating of 'AAA' to Dallas County Community College District (DCCCD, or the district), Texas' $220 million limited general obligation bonds, series 2008. In addition, Fitch affirms the 'AAA' rating on the approximately $30 million in maintenance tax notes and $63 million in outstanding parity bonds. The Rating Outlook is Stable. Scheduled for a negotiated sale August 5, 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... [read full story]