S&P ups Lancaster Educational Assistance, S.C., bonds to A-

Standard & Poor's said it raised its rating to A from A- on Lancaster County School District and to A- from BBB+ on the Lancaster Educational Assistance Program, S.C.'s approximately $70.15 million of series 2004 installment purchase revenue bonds, issued on behalf of Lancaster County School District.

The outlook remains stable.

The change reflects S&P's upgrade of the district's issuer credit rating to A from A-, which affected about $27.7 million of general obligation debt.

At the same time, S&P said it assigned its AA long-term rating and stable outlook to the district's $10 million of series 2008 G.O. refunding bonds and affirmed its AA long-term rating on the district's outstanding debt.

The long-term rating reflects security provided by the South Carolina State Aid Intercept Program.

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