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

S&P Global Ratings assigned its 'AAA' long-term rating and 'AA' underlying rating (SPUR) to Leander Independent School District (ISD), Texas' series 2019 unlimited-tax refunding bonds series A and taxable series B. At the same time, S&P Global Ratings affirmed its 'AA' rating on the district's previously issued general obligation debt. The outlook is stable. The long-term rating reflects our view of the district's eligibility for, and participation in, the Texas Permanent School Fund (PSF) bond guarantee program, which provides the security of a permanent fund of assets that the district can use to meet debt service on bonds guaranteed by the program. (For more information on the program rating, see our report on the Texas PSF, published Jan. 25, 2017,

...S&P Global Ratings assigned its '###' long-term rating and '##' underlying rating (SPUR) to Leander Independent School District (ISD), Texas' series 2019 unlimited-tax refunding bonds series A and taxable series B. At the same time, S&P Global Ratings affirmed its '##' rating on the district's previously issued general obligation debt. The outlook is stable. The long-term rating reflects our view of the district's eligibility for, and participation in, the Texas Permanent School Fund (PSF) bond guarantee program, which provides the security of a permanent fund of assets that the district can use to meet debt service on bonds guaranteed by the program. (For more information on the program rating, see our report on the Texas PSF, published Jan. 25, 2017, on RatingsDirect.) Revenue from an unlimited ad valorem tax on all taxable property within the district secures the bonds. Bond proceeds will refund certain debt for savings. Leander ISD has been an extremely fast-growing district, adding...

Summary