Jefferson County Board of Education, KY's Anticipated $139.72 Million GO Bonds Assigned 'AA' Rating; Outlook Is Stable

CHICAGO (S&P Global Ratings) Aug. 22, 2024--S&P Global Ratings assigned its 'AA' rating to Jefferson County Board of Education, Ky.'s anticipated $139.72 million general obligation (GO) bonds, series 2024A. At the same time, S&P Global Ratings affirmed its 'AA' issuer credit rating (ICR) on the district and its 'AA-' long-term rating on Jefferson County School District Finance Corp.'s appropriation debt issued for the district. The outlook is stable. "The 'AA' rating reflects the district's continued growth in its economic base, strong reserves, and low debt," said S&P Global Ratings credit analyst Jessica Olejak. Elementary and Secondary School Emergency Relief (ESSER) funds have supplemented operations over the past several years, leading to a very strong fund balance. Although the district plans

...August 22, 2024 CHICAGO (S&P Global Ratings) Aug. 22, 2024--S&P Global Ratings assigned its '##' rating to Jefferson County Board of Education, Ky.'s anticipated $139.72 million general obligation (GO) bonds, series 2024A. At the same time, S&P Global Ratings affirmed its '##' issuer credit rating (ICR) on the district and its '##-' long-term rating on Jefferson County School District Finance Corp.'s appropriation debt issued for the district. The outlook is stable. "The '##' rating reflects the district's continued growth in its economic base, strong reserves, and low debt," said S&P Global Ratings credit analyst Jessica Olejak. Elementary and Secondary School Emergency Relief (ESSER) funds have supplemented operations over the past several years, leading to a very strong fund balance. Although the district plans to spend down those funds to fill vacancies and increase salaries, we anticipate reserves will remain strong. The stable outlook reflects our expectation that the district has...

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