Standard&Poor's Ratings Services assigned its 'AA' rating and stable outlook to Jefferson Parish School Board, La.'s series 2016 0.5% sales tax school bonds and affirmed its 'AA' rating, with a stable outlook, on the board's parity sales tax debt. The rating reflects our opinion of the board's: Service sector-based economy, anchored in retailing, tourism (helped by the parish's access 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 4.46x. We believe the rating is somewhat constrained by, what we consider, the board's: 1.33x MADS additional bonds test, and Additional capital needs that are likely to result in the issuance of
