2011-02-09 20:37:20 -

Fitch Ratings assigns an underlying 'AA' rating and an enhanced 'AAA' rating to Comal ISD, Texas' approximately $8.8 million unlimited tax refunding bonds series 2011. The 'AAA' rating is based on a guarantee by the Texas Permanent School Fund (PSF; Insurer Financial Strength rated 'AAA'). The Rating Outlook is Stable.

The bonds were originally rated by Fitch on Dec. 8, 2010 in advance of the pending sale. The sale was delayed due to market conditions. Fitch withdraws the 'AA' underlying and the 'AAA enhanced rating on the series 2010A bonds.

Additional information is available at www.fitchratings.com : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww .. .

Applicable Criteria and Related Research.

--'Tax-Supported Rating Criteria', (Aug. 16, 2010);

--'U.S. Local Government Tax-Supported Rating Criteria', (Oct. 8, 2010);

--'Revenue

Supported Rating Criteria', (Oct. 8, 2010)

--'State Revolving Fund and Municipal Loan Pool Rating Guidelines', (April 28, 2008).

Applicable Criteria and Related Research.

Tax-Supported Rating Criteria

www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id= .. : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww ..

U.S. Local Government Tax-Supported Rating Criteria

www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id= .. : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww ..

Revenue-Supported Rating Criteria

www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id= .. : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww ..

State Revolving Fund and Municipal Loan Pool Rating Guidelines

www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id= .. : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww ..

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS : cts.businesswire.com/ct/CT?id=smartlink&url=HTTP%3A%2F%2FFIT .. .
IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE WWW.FITCHRATINGS.COM : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2FWWW .. .
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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Fitch RatingsPrimary AnalystBlake Roberts, +1-512-215-3741AnalystFitch,
Inc.111 Congress Avenue, Suite 2010Austin, TX 78701orSecondary

AnalystGabriela Gutierrez, +1-512-215-3731DirectororCommittee
ChairpersonMichael Rinaldi, +1-212-908-0833Senior DirectororMedia
Relations, New YorkCindy Stoller, +1-212-908-0526 cindy.stoller@fitchratings.com : mailto:cindy.stoller@fitchratings.com