Standard&Poor's Ratings Services assigned its 'A' rating to Laurel Highlands School District, Pa.'s series 2013 general obligation (GO) bonds and affirmed its 'A' rating on the district's existing GO debt. The outlook on all of the ratings is stable. The rating reflects our opinion of the district's: Access to, and participation in, the Pittsburgh metropolitan area; Strong finances over the past five fiscal years despite using the fund balance in fiscal 2012; and Moderately high debt as a percentage of market value, with very limited additional capital needs. We believe the district's reliance on state aid and projected general fund drawdowns somewhat offset these strengths. The district's full-faith-and-credit pledge secures the bonds. The Pennsylvania State Aid Intercept program
