Summary: Leander Independent School District, Texas; General Obligation; School State Program

Standard&Poor's Ratings Services assigned its 'AAA' program rating and 'AA-' underlying rating for credit program to Leander Independent School District (ISD), Texas' series 2015A unlimited-tax general obligation (GO) refunding bonds. At the same time, Standard&Poor's assigned its 'AA-' long-term rating to the district's series 2015B unlimited-tax GO refunding bonds. Standard&Poor's also affirmed its 'AA-' long-term rating, underlying rating (SPUR), and underlying rating for credit program on the ISD's existing unlimited-tax GO debt. The outlooks for all of the ratings are stable. The 2015A and 2015B bonds are payable from an unlimited ad valorem (property) tax levied on all taxable property in the district. Bond proceeds will refund portions of the ISD's existing debt to

...Standard & Poor's Ratings Services assigned its '###' program rating and '##-' underlying rating for credit program to Leander Independent School District (ISD), Texas' series 2015A unlimited-tax general obligation (GO) refunding bonds. At the same time, Standard & Poor's assigned its '##-' long-term rating to the district's series 2015B unlimited-tax GO refunding bonds. Standard & Poor's also affirmed its '##-' long-term rating, underlying rating (SPUR), and underlying rating for credit program on the ISD's existing unlimited-tax GO debt. The outlooks for all of the ratings are stable. The 2015A and 2015B bonds are payable from an unlimited ad valorem (property) tax levied on all taxable property in the district. Bond proceeds will refund portions of the ISD's existing debt to reduce its capital appreciation bond (CAB) portfolio to 66% from 77% and provide estimated net present value savings of $50.7 million. The '###' program rating reflects the district's eligibility for the Texas Permanent...

Summary