Fayette County Board Of Education, KY Appropriation Debt Rating Raised To 'AA-' From 'A+' On Replenished Reserves

CHICAGO (S&P Global Ratings) May 2, 2018--S&P Global Ratings raised its long-term rating to 'AA-' from 'A+' on Fayette County School District Finance Corp., Ky.'s previously issued appropriation debt, issued for Fayette County Board of Education (the district). At the same time, we assigned our 'AA-' rating to the district's series 2018A school building revenue bonds. S&P Global Ratings does not have a public ICR on the district. The outlook is stable. "The raised rating reflects our view of the district's replenished reserve levels, which are supported by a formal fund balance policy," said S&P Global Ratings credit analyst Helen Samuelson. "The rating further reflects our view of the district's growing economy, which has generated tax revenue to support operations,"

...CHICAGO (S&P Global Ratings) May 2, 2018--S&P Global Ratings raised its long-term rating to '##-' from 'A+' on Fayette County School District Finance Corp., Ky.'s previously issued appropriation debt, issued for Fayette County Board of Education (the district). At the same time, we assigned our '##-' rating to the district's series 2018A school building revenue bonds. S&P Global Ratings does not have a public ICR on the district. The outlook is stable. "The raised rating reflects our view of the district's replenished reserve levels, which are supported by a formal fund balance policy," said S&P Global Ratings credit analyst Helen Samuelson. "The rating further reflects our view of the district's growing economy, which has generated tax revenue to support operations," Ms. Samuelson added. The rating on the appropriation debt is one notch lower than what we view as the general creditworthiness of the district. Officials plan to use the 2018A bond proceeds to construct a new elementary school...

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