CHICAGO (Standard&Poor's) May 21, 2009--Standard&Poor's Ratings Services has raised its ratings on Fayette County School District Finance Corp., Ky.'s lease-backed debt, supported by Fayette County Board of Education, to 'AA' from 'AA-', reflecting the district's maintenance of strong financial reserves while continuing to successfully manage its capital needs. The outlook is stable. At the same time, the rating service assigned its 'AA' long-term rating to Fayette County School District Finance Corp.'s $30 million 2009A school building revenue tax-exempt bonds and $52.3 million series 2009A and 2009B school building revenue taxable bonds, supported by the board. The rating reflects the credit characteristics of the board. Credit characteristics reflecting the district's rating include a diverse economic base anchored
