Both Moody’s and Standard and Poor’s rating services have affirmed the district’s Aa2 and AA+ underlying credit worthiness for the upcoming refunding of a portion of the district’s outstanding bonds.  The bonds will be backed by the State of Texas Permanent School Fund and will go out to market as AAA.  The underlying rating is very important to investors as it demonstrates the credit worthiness of the district if it were to issue on its own merits. Irving ISD should expect to see a very favorable interest rate when the bonds are priced.

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