Standard&Poor's Ratings Services assigned its 'AA' long-term rating to Fayette County School District Finance Corp., Ky.'s series 2012A school building refunding revenue bonds, issued for Fayette County Board of Education. At the same time, Standard&Poor's affirmed its 'AA' long-term and underlying rating (SPUR) on the district's existing debt. The outlook on all ratings is stable. The rating reflects our opinion of the district's: Participation in a deep and diverse economy anchored by the University of Kentucky; Growing enrollment levels that are expected to continue; Strong financial position, which was built with surpluses; Continued strong reserves, due to good management practices, although management has budgeted to use a portion of the general fund balance in 2012 and
