Standard&Poor's Ratings Services assigned its 'AAA' program rating and 'AA-' school issuer credit rating (ICR) and stable outlook to Leander Independent School District, Texas' series 2011 unlimited-tax general obligation (GO) refunding bonds and affirmed its 'AA-' ICR, long-term rating, and underlying rating (SPUR), with a stable outlook, on the district's existing GO debt. The 'AAA' program rating reflects the strength of the Texas Permanent School Fund guarantee. The rating reflects our view of the district's: Participation in the growing and diverse Austin metropolitan statistical area (MSA) economy; Very strong wealth and income levels; and Very strong historical financial position, reflected by consistently high fund balances, despite continued growth pressures. We believe the district's high debt burden and additional
