Standard&Poor's Ratings Services assigned its 'AAA' enhanced rating and 'BBB+' Standard&Poor's underlying rating (SPUR), and stable outlook, to Lone Oak Independent School District, Texas' unlimited-tax school building bonds. The enhanced rating reflects the credit enhancement provided by the Texas Permanent School Fund. The SPUR reflects the district's: Limited, agricultural-based local economy; Below-average wealth and income levels; and Potential growth pressures due to expected student enrollment growth. These characteristics are offset by the district's: Strong financial position; and Low debt burden, including significant state support of debt service payments. The district's full faith and credit pledge secures the bonds. Lone Oak Independent School District, with an estimated population of 4,435, is in Hunt County, 14 miles south
