Standard&Poor's Ratings Services assigned its 'A' rating and stable outlook to Laurel Highlands School District, Pa.'s series 2014 general obligation (GO) bonds and affirmed its 'A' rating, with a stable outlook, on the district's existing GO debt. The rating reflects our opinion of the district's general creditworthiness, including its: Access to, and participation in, the Pittsburgh metropolitan statistical area; Historically good-to-strong financial performance, including the maintenance of strong available general fund reserves; and Moderately high market value debt with very limited additional capital needs. We believe the district's reliance on state aid and a projected general fund drawdown in fiscal 2014 somewhat offset these strengths. The district's full-faith-and-credit pledge secures the bonds. The Pennsylvania State Aid Intercept program
