NY -- Standard&Poor's CreditWire 7/22/98 -- Standard&Poor's today assigned its triple-'A' rating to Leander Independent School District, Texas' $53.7 million unlimited tax school building and refunding bonds series 1998. The triple-'A' rating on Leander Independent School District, Texas' bonds reflects the credit enhancement provided by the Texas Permanent School Fund. The Permanent Fund, under Article VII, section 5 of the constitution, permits the use of the fund's endowment to ensure bondholders of timely debt service payments. In addition, Standard&Poor's assigned its single-'A' underlying rating (SPUR) to the district's same issue. Standard&Poor's also raised its SPUR on the school district's outstanding bonds to single-'A' from single-'A'-minus based on consistent good financial operations despite
