NY -- Standard&Poor's CreditWire 3/2/98 -- Standard&Poor's today assigned its triple-'A' rating to Plano Independent School District, Texas' $32.9 million school building unlimited tax bonds series 1998. The rating 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 its endowment to ensure bondholders of timely debt service payments. In the event of a potential default, the school district must notify the commissioner not later than five days before the maturity date of the guaranteed debt. The commissioner will then pay debt service to the paying agent and direct the state to later withhold district state aid to repay the
