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.'s anticipated $78.165 million series 2022A 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' issuer credit rating (ICR) on the district and 'AA-' long-term rating and underlying rating (SPUR) on Jefferson County School District Finance Corp.'s existing appropriation debt issued for 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 lease obligations outstanding, one notch lower

...S&P Global Ratings assigned its '##-' long-term rating to Jefferson County School District Finance Corp.'s anticipated $78.165 million series 2022A school building revenue bonds, issued for the Jefferson County Board of Education (the district). At the same time, S&P Global Ratings affirmed its '##' issuer credit rating (ICR) on the district and '##-' long-term rating and underlying rating (SPUR) on Jefferson County School District Finance Corp.'s existing appropriation debt issued for 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 lease obligations outstanding, 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...

Summary