Fitch Rates Clark County School District's $675MM GOs 'AA'

Business Wire,  May 13, 2008  

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The 2008A bond proceeds will be used for the acquisition and construction and renovation of school facilities. Since 1998, the district has issued $4.5 billion in GO bonds, completed 94 new or replacement schools on time and on budget, and expects to complete and open an additional 12 schools before or during the 2008-2009 school year.

Debt levels are and should remain moderate as additional bonds are offset by rising population and AV, along with rapid amortization of outstanding debt. Direct debt level, including this issuance, is $2,624 per capita and 2.0% of market value, while overall debt level is $2,778 per capita and 2.1% of market value.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.

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