Standard&Poor's Ratings Services assigned its 'A' long-term rating, and stable outlook, to East Pennsboro Area School District, Pa.'s series 2009 general obligation (GO) bonds and affirmed its 'A' SPUR, with a stable outlook, on the district's existing GO debt. The rating reflects the school district's eligibility for, and participation in, the Pennsylvania State Aid Intercept program. The strength and availability of state aid to intercept program participants support program credit characteristics. Standard&Poor's rates four different types of state programs, in more than 20 states, that provide enhancement for school bond issues. These program types include state guarantee, permanent fund, annual appropriation, and state intercept or withholding programs. Each state program is analyzed according to the program
