Summary: Jefferson County School District Finance Corp., Kentucky Jefferson County Board of Education; Appropriations; General Obligation

Standard&Poor's Ratings Services assigned its 'AA-' long-term rating to Jefferson County School District Finance Corp., Ky.'s series 2015C school building revenue bonds, supported by the Jefferson County Board of Education (the district). At the same time, Standard&Poor's affirmed its 'AA-' long-term rating and underlying rating (SPUR) on the corporation's existing appropriation debt, supported by the district, and its 'AA' issuer credit rating (ICR) on the district. The outlook is stable. The bonds are secured by lease rental payments from the Jefferson County Board of Education, from legally available revenue under a renewable, annually terminable lease. A statutory mortgage lien on the various projects also secures the bonds. The rating reflects our view of the district's agreement

...Standard & Poor's Ratings Services assigned its '##-' long-term rating to Jefferson County School District Finance Corp., Ky.'s series 2015C school building revenue bonds, supported by the Jefferson County Board of Education (the district). At the same time, Standard & Poor's affirmed its '##-' long-term rating and underlying rating (SPUR) on the corporation's existing appropriation debt, supported by the district, and its '##' issuer credit rating (ICR) on the district. The outlook is stable. The bonds are secured by lease rental payments from the Jefferson County Board of Education, from legally available revenue under a renewable, annually terminable lease. A statutory mortgage lien on the various projects also secures the bonds. The rating reflects our view of the district's agreement to appropriate annual debt service payments. Officials will use the series 2015C bond proceeds to fund the construction of a new elementary school. Although any legally available revenue can be used to...

Summary