Standard&Poor's Ratings Services assigned its 'AA' long-term rating to Fayette County School District Finance Corp., Ky.'s series 2012B school building revenue bonds, issued for Fayette County Board of Education. At the same time, Standard&Poor's affirmed its 'AA' long-term rating and underlying rating (SPUR) on the district's existing debt. The outlook is stable. The ratings reflect our opinion of the district's: Participation in a deep and diverse economy anchored by the University of Kentucky; Growing enrollment, and management's expectation of continued growth; Strong financial position due to several years of surpluses; Continued strong reserves despite management's plan to use a portion of the general fund balance this year and in budget year 2013; and Moderate debt levels
