Standard&Poor's Ratings Services assigned its 'AAA' enhanced rating and its 'A' underlying rating (SPUR) to Leander Independent School District, Texas' series 2004 unlimited-tax school building and refunding bonds. In addition, Standard&Poor's affirmed its 'A' underlying rating (SPUR) on the school district's outstanding debt. The 'AAA' enhanced rating is based on the guarantee provided by the Texas Permanent School Fund. The 'A' Standard&Poor's underlying rating (SPUR) reflects the district's: Participation in the rapidly growing Austin MSA economy, which provides significant employment opportunities; Continued expansion of the sizeable tax base, supported by households with above average incomes; and Consistently strong financial performance, with maintenance of sound reserves, despite continued growth pressures. The above strengths are constrained
