Standard&Poor's Ratings Services assigned its 'A' rating and stable outlook to Laurel Highlands School District, Pa.'s series 2015C and 2015D general obligation (GO) bonds and affirmed its 'A' rating, with a stable outlook, on the district's existing GO debt. The district's full-faith-and-credit pledge secures the bonds. The district qualifies for the Pennsylvania State Aid Intercept Program given state revenues provide better than 4x coverage of maximum annual debt service on the district's GO debt. As such, the Pennsylvania State Aid Intercept Program provides additional bond security. We understand that officials plan to use bond proceeds to refund the district's series 2010A bonds. The rating reflects our opinion of the district's general creditworthiness, including its: Access to, and participation
