News Story

New York, May 25, 2017 -- Issue: Qualified Zone Academy Bonds, Taxable Series 2017; Rating: Aaa; Rating Type: Enhanced LT; Sale Amount: $4,405,000; Expected Sale Date: 06/01/2017; Rating Description: General Obligation;

Summary Rating Rationale

Moody's Investors Service has assigned a Aaa enhanced rating to Dallas Independent School District's, TX $4.4 million Qualified Zone Academy Bonds, Taxable Series 2017.

The Aaa enhanced rating is based on the rating of the Texas Permanent School Fund and the structure and legal protections of the transaction which provide for timely payment by the PSF if necessary. Moody's currently rates the Permanent School Fund Aaa. For additional information on the PSF program, please see Moody's Rating Update on the Texas Permanent School Fund dated January 27, 2017.

For more information on the district's Aa1 underlying rating, please see the annual update report dated March 22, 2017.