OREANDA-NEWS. S&P Global Ratings revised its outlook to developing from negative and affirmed its 'BBB+' rating on Beaumont Independent School District, Texas' general obligation (GO) debt. At the same time, S&P Global Ratings assigned its 'AAA' program rating and 'BBB+' underlying rating to the district's series 2016 unlimited-tax refunding bonds. The bonds are secured by an unlimited ad valorem tax pledge proceeds of which will be used to refund a portion of the district's debt for debt service savings.

"The developing outlook reflects our view that the rating could be raised or lowered within our one-year outlook horizon," said S&P Global Ratings credit analyst Oscar Padilla.