Fitch gives enhanced AAA rating to Eagle Mountain-Saginaw school bonds

Fitch Ratings said it assigned an initial AAA rating to Eagle Mountain-Saginaw Independent School District, Texas' $96.015 million series 2008 unlimited tax school building bonds, based on a guaranty provided by the Texas Permanent School Fund.

Fitch assigned an underlying rating of A+ to the bonds and to the district's $373.9 million in outstanding unlimited tax bonds. The outlook is stable.

The bonds are scheduled for a negotiated sale as early as July 22. Proceeds will be used to finance school facility projects and to pay costs of issuance.

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