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

S&P Global Ratings assigned its 'AA-' long-term rating to Jefferson County School District Finance Corp., Ky.'s $61.9 million series 2020A school building revenue bonds, issued for the Jefferson County Board of Education (the district). At the same time, S&P Global Ratings affirmed its 'AA-' long-term rating and underlying rating (SPUR) on the corporation's existing appropriation debt issued on behalf of the district, and its 'AA' issuer credit rating (ICR) on the district. The outlook is stable. The bonds are secured by lease rental payments made by the Jefferson County Board of Education, as lessee, to the Jefferson County School District Finance Corp., as lessor. We rate these bonds, as well as the district's outstanding lease obligations, one notch lower than

...S&P Global Ratings assigned its '##-' long-term rating to Jefferson County School District Finance Corp., Ky.'s $61.9 million series 2020A school building revenue bonds, issued for the Jefferson County Board of Education (the district). At the same time, S&P Global Ratings affirmed its '##-' long-term rating and underlying rating (SPUR) on the corporation's existing appropriation debt issued on behalf of the district, and its '##' issuer credit rating (ICR) on the district. The outlook is stable. The bonds are secured by lease rental payments made by the Jefferson County Board of Education, as lessee, to the Jefferson County School District Finance Corp., as lessor. We rate these bonds, as well as the district's outstanding lease obligations, one notch lower than the district's general creditworthiness (as reflected in the ICR) to account for the appropriation risk associated with the lease payments. The district has pledged its best efforts to seek appropriations annually out of its operating...

Summary