Standard&Poor's Ratings Services assigned its 'AA' long-term rating to Jefferson Parish School Board, La.'s series 2012 0.5% sales tax refunding bonds. At the same time, we affirmed the rating on the school board's existing parity sales tax debt. The outlook is stable. The rating reflects our view of the board's: Service sector-based economy, anchored in retailing, tourism -- helped by the parish's proximity to New Orleans -- and health care. These activities have diversified the parish's traditional base in shipbuilding and the oil and gas industry; and Maximum annual debt service (MADS) coverage of over 3.2x, and no plans to issue parity debt in the near term. The rating is constrained by the school board's 1.33x MADs additional
