Standard&Poor's Ratings Services assigned its 'AAA/BBB+' (SPUR) rating and 'BBB+' to Lone Oak Independent School District, Texas' outstanding unlimited-tax school building bonds. The 'AAA' enhanced rating reflects the credit enhancement provided by the Texas Permanent School Fund. The 'BBB+' Standard&Poor's underlying rating (SPUR) reflects the district's: Limited, agricultural-based local economy; Below-average wealth and income levels; and Reduced average daily attendance, with limited enrollment growth projected. These characteristics are offset by the district's: Strong financial position; and Low debt burden per capita, including significant state support of debt service payments. The district's full faith and credit pledge secures the bonds. Lone Oak Independent School District (estimated population: 4,261) is located in Hunt County, 14 miles south of
