Standard&Poor's Ratings Services has assigned its 'AA' rating to Fayette County School District Finance Corp., Kentucky's 2009B school building refunding revenue tax-exempt bonds, issued for the Fayette County Board of Education. At the same time, Standard&Poor's affirmed its 'AA' ratings on the board's existing debt. The outlook is stable. The 'AA' rating on the series 2009B bonds reflects the credit characteristics of the board. The district does not intend to fund a debt service reserve, but plans to appropriate annual debt service payments at least three months in advance of coming due. The district plans on paying the debt service with its five-cent per $100 of assessed value levy. Credit characteristics reflecting the rating on the
