NEW YORK (Standard&Poor's) April 25, 2008--Standard&Poor's Ratings Services raised its issuer credit rating (ICR) and underlying rating (SPUR) on Leander Independent School District, Texas' general obligation (GO) bonds two notches to 'AA-' from 'A'. At the same time, Standard&Poor's assigned its 'AAA' enhanced rating and 'AA-' ICR to the district's series 2008 unlimited-tax general obligation school building and refunding bonds. The enhanced rating reflects the security of the Texas Permanent School Fund guarantee. The upgrade is based on the district's ongoing growth, leading to diversity, triggered by improved access to the greater Austin area; consistently strong financial performance, supported by strong financial management practices; and new economic data that attests to strong income levels.
