S&P Global Ratings assigned its 'AAA' long-term rating and 'AA' underlying rating to Leander Independent School District (ISD), Texas' anticipated $135 million series 2022 unlimited-tax school building bonds. At the same time, S&P Global Ratings affirmed its 'AA' underlying rating on the district's general obligation (GO) debt outstanding. The outlook is stable. The bonds are payable from a continuing direct annual ad valorem tax levied by the district, without legal limit as to rate or amount, on all taxable property within the district. Proceeds of the bonds will be used for constructing, acquiring, renovating, and improving school buildings. The bonds are further secured by the district's eligibility for, and participation in, the Texas Permanent School Fund (PSF) bond guarantee program.
