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 'AA' rating assigned to Fayette County School District Finance Corp.'s 2009A school building revenue tax-exempt bonds and series 2009A and 2009B school building revenue taxable bonds, supported by the board, reflects the credit characteristics of the board. The board intends to issue the taxable 2009A and 2009B bonds as federally taxable Build America Bonds, in which the district will receive a credit from the U.S. Treasury equal to 35% of the stated interest
