DALLAS — The Dallas Independent School District received downgrades from Fitch Ratings and Standard & Poor’s this week as officials prepare to issue the first slice of a $1.35 billion authorization passed in May.

Both agencies lowered the underlying rating to AA-minus from AA, as the district plans to offer $400 million of unlimited-tax school building bonds next week. The bonds come to market with the triple-A credit enhancement of Texas’ Permanent School Fund.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.