Fitch Rates Leander ISD, Texas' 2005 Bonds 'AAA' with PSF Guarantee.AUSTIN, Texas -- Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. has assigned an 'AAA' rating to the Leander Independent School District Leander Independent School District is a school district based in Leander, Texas (USA) and covering Leander, Cedar Park, Jonestown and Northwest Austin. It has "Academically Acceptable" status under the Texas Education Agency. , Texas' (the district) $111.8 million unlimited tax school building and refunding bonds refunding bond A bond that is issued for the purpose of retiring an outstanding bond. Issuers refund bond issues to reduce financing costs, eliminate covenants, and alter maturities. See also crossover refunding bonds, prerefunding. , series 2005 (the bonds), based on a guarantee provided by the Texas Permanent School Fund, whose insurer financial strength is rated 'AAA' by Fitch. An underlying rating of 'A+' has been assigned to the bonds, as well as to the district's $382.4 million in outstanding unlimited tax school building bonds. For a full description of the financing, see the press release 'Fitch Rates Leander ISD See IDD. , Texas Unltd Tax School & Rfdg Bonds 'A+',' dated March 30, 2005, available on the Fitch Ratings web site at www.fitchratings.com. |
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