Standard&Poor's Ratings Services assigned its 'A' long-term rating, and stable outlook, to Laurel Highlands School District, Pa.'s series 2010A-2010C general obligation (GO) bonds and affirmed its 'A' underlying rating (SPUR), with a stable outlook, on the district's existing GO debt. Previously, the district's 'A' rating had been based on the Pennsylvania State Aid Intercept program; but it now reflects the district's own creditworthiness. The rating reflects our opinion of the district's: Access to, and participation in, the Pittsburgh metropolitan statistical area; Improved financial position over the past five fiscal years with reserves that increased to a strong 11.5% of operating expenditures at fiscal year-end 2009; and Moderate debt burden with limited additional capital needs and rapid amortization. The
