Standard&Poor's Ratings Services assigned its 'AA' long-term rating to Jefferson Parish School Board, La.'s series 2014 limited-tax general obligation (GO) bonds. At the same time, we affirmed our 'AA' long-term rating on the school board's previously issued parity debt. The outlook is stable. The rating reflects our view of the board's: Service-sector-based economy that is centered on retail trade, tourism, and health care, which provides additional diversity to the parish's traditional base in shipbuilding and the oil and gas industry; Strong wealth and income levels; and Strong maximum annual debt service (MADS) coverage and limited capital plans. The bonds are secured by revenue from a 2.91-mill ad valorem tax on all taxable property within the school board. Per
