![Clay County S.D. Finance Company, KY — Moody’s assigns A1 ENH to Clay CSD, KY’s Income Bonds Clay County S.D. Finance Company, KY — Moody’s assigns A1 ENH to Clay CSD, KY’s Income Bonds](https://bestinvestmentsnow.com/wp-content/uploads/https://s.yimg.com/cv/apiv2/social/images/yahoo_default_logo-1200x1200.png)
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Ranking Motion: Moody’s assigns A1 ENH to Clay CSD, KY’s Income BondsGlobal Credit score Analysis – 31 Aug 2022New York, August 31, 2022 — Moody’s Traders Service has assigned an A1 enhanced ranking to Clay County Faculty District, KY’s roughly $3.5 million Faculty Constructing Income Bonds, Collection of 2022, issued by the Clay County Faculty District Finance Company.RATINGS RATIONALEThe A1 enhanced ranking is predicated on the Kentucky Faculty District Enhancement Program (A1), which is offered to all college districts in Kentucky (Commonwealth of Kentucky, Aa3 steady). Clay County Faculty District meets the 1.0x debt service protection requirement to acquire the programmatic ranking; estimated obtainable state support, primarily based on audited fiscal 2022 state support receipts ($16.7 million), would offer an ample 10.4x protection for the district’s most debt service fee ($1.6 million in fiscal 2024) primarily based on preliminary numbers.FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATING- An improve of the Commonwealth of Kentucky’s long-term issuer ratingFACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATING- Downgrade of the Commonwealth of Kentucky’s long-term issuer rating- Weakening of this system’s notification and timing provisions or of the state Division of Training’s (“KY DOE”) oversightLEGAL SECURITYWhile debt service on the bonds is payable from annual rental funds, that are topic to annual appropriation by the district, final reimbursement of the bonds is supplied by the Kentucky Faculty District Enhancement Program. The mechanics of this system direct the paying agent to inform the KY DOE if fee of principal or curiosity has not been obtained three days previous to the date on which the debt service fee is due. Upon notification by the paying agent, the KY DOE should ahead, from obtainable funds, the quantity because of the paying agent.USE OF PROCEEDSBond proceeds will fund Part I web site work for a brand new profession and technical heart constructing.PROFILEClay County Faculty District is positioned within the southern portion of the Jap Coal Subject Area of Kentucky, roughly 166 miles southeast of Louisville & Jefferson Co. Metro. Govt., KY (Aa1 steady). The district had common every day attendance of two,810 throughout the 2021-22 college yr. The Clay County Faculty District Finance Company, issuer of the Collection of 2022 bonds, is a non-profit company created by the district pursuant to Kentucky Revised Statute 162.385 to behave as a municipal company and company and instrumentality of the board.METHODOLOGYThe principal methodology used on this ranking was State Support Intercept Applications and Financings Methodology printed in March 2022 and obtainable at https://scores.moodys.com/api/rmc-documents/356903. Alternatively, please see the Ranking Methodologies web page on https://scores.moodys.com for a replica of this technique.REGULATORY DISCLOSURESFor additional specification of Moody’s key ranking assumptions and sensitivity evaluation, see the sections Methodology Assumptions and Sensitivity to Assumptions within the disclosure kind. Moody’s Ranking Symbols and Definitions may be discovered on https://scores.moodys.com/rating-definitions.For scores issued on a program, sequence, class/class of debt or safety this announcement gives sure regulatory disclosures in relation to every ranking of a subsequently issued bond or word of the identical sequence, class/class of debt, safety or pursuant to a program for which the scores are derived completely from present scores in accordance with Moody’s ranking practices. For scores issued on a assist supplier, this announcement gives sure regulatory disclosures in relation to the credit standing motion on the assist supplier and in relation to every explicit credit standing motion for securities that derive their credit score scores from the assist supplier’s credit standing. For provisional scores, this announcement gives sure regulatory disclosures in relation to the provisional ranking assigned, and in relation to a definitive ranking which may be assigned subsequent to the ultimate issuance of the debt, in every case the place the transaction construction and phrases haven’t modified previous to the task of the definitive ranking in a way that may have affected the ranking. For additional data please see the issuer/deal web page for the respective issuer on https://scores.moodys.com.Regulatory disclosures contained on this press launch apply to the credit standing and, if relevant, the associated ranking outlook or ranking overview.Moody’s common rules for assessing environmental, social and governance (ESG) dangers in our credit score evaluation may be discovered at https://scores.moodys.com/paperwork/PBC_1288235.Please see https://scores.moodys.com for any updates on adjustments to the lead ranking analyst and to the Moody’s authorized entity that has issued the ranking.Please see the issuer/deal web page on https://scores.moodys.com for extra regulatory disclosures for every credit standing. Shambhavi Chadha Lead Analyst REGIONAL_NE Moody’s Traders Service, Inc. 7 World Commerce Middle 250 Greenwich Road New York 10007 JOURNALISTS: 1 212 553 0376 Shopper Service: 1 212 553 1653 Lauren Von Bargen Extra Contact REGIONAL_NE JOURNALISTS: 1 212 553 0376 Shopper Service: 1 212 553 1653 Releasing Workplace: Moody’s Traders Service, Inc. 250 Greenwich Road New York, NY 10007 U.S.A JOURNALISTS: 1 212 553 0376 Shopper Service: 1 212 553 1653 © 2022 Moody’s Company, Moody’s Traders Service, Inc., Moody’s Analytics, Inc. and/or their licensors and associates (collectively, “MOODY’S”). All rights reserved.CREDIT RATINGS ISSUED BY MOODY’S CREDIT RATINGS AFFILIATES ARE THEIR CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES, AND MATERIALS, PRODUCTS, SERVICES AND INFORMATION PUBLISHED BY MOODY’S (COLLECTIVELY, “PUBLICATIONS”) MAY INCLUDE SUCH CURRENT OPINIONS. MOODY’S DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT OR IMPAIRMENT. SEE APPLICABLE MOODY’S RATING SYMBOLS AND DEFINITIONS PUBLICATION FOR INFORMATION ON THE TYPES OF CONTRACTUAL FINANCIAL OBLIGATIONS ADDRESSED BY MOODY’S CREDIT RATINGS. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. CREDIT RATINGS, NON-CREDIT ASSESSMENTS (“ASSESSMENTS”), AND OTHER OPINIONS INCLUDED IN MOODY’S PUBLICATIONS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT. MOODY’S PUBLICATIONS MAY ALSO INCLUDE QUANTITATIVE MODEL-BASED ESTIMATES OF CREDIT RISK AND RELATED OPINIONS OR COMMENTARY PUBLISHED BY MOODY’S ANALYTICS, INC. AND/OR ITS AFFILIATES. MOODY’S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS DO NOT CONSTITUTE OR PROVIDE INVESTMENT OR FINANCIAL ADVICE, AND MOODY’S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT AND DO NOT PROVIDE RECOMMENDATIONS TO PURCHASE, SELL, OR HOLD PARTICULAR SECURITIES. MOODY’S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS DO NOT COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR. MOODY’S ISSUES ITS CREDIT RATINGS, ASSESSMENTS AND OTHER OPINIONS AND PUBLISHES ITS PUBLICATIONS WITH THE EXPECTATION AND UNDERSTANDING THAT EACH INVESTOR WILL, WITH DUE CARE, MAKE ITS OWN STUDY AND EVALUATION OF EACH SECURITY THAT IS UNDER CONSIDERATION FOR PURCHASE, HOLDING, OR SALE.MOODY’S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS, AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY’S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS OR PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER.ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY’S PRIOR WRITTEN CONSENT.MOODY’S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT COULD RESULT IN THEM BEING CONSIDERED A BENCHMARK.All data contained herein is obtained by MOODY’S from sources believed by it to be correct and dependable. Due to the opportunity of human or mechanical error in addition to different elements, nonetheless, all data contained herein is supplied “AS IS” with out guarantee of any variety. MOODY’S adopts all crucial measures in order that the data it makes use of in assigning a credit standing is of enough high quality and from sources MOODY’S considers to be dependable together with, when acceptable, impartial third-party sources. Nonetheless, MOODY’S isn’t an auditor and can’t in each occasion independently confirm or validate data obtained within the ranking course of or in getting ready its Publications.To the extent permitted by legislation, MOODY’S and its administrators, officers, workers, brokers, representatives, licensors and suppliers disclaim legal responsibility to any particular person or entity for any oblique, particular, consequential, or incidental losses or damages by any means arising from or in reference to the data contained herein or using or incapacity to make use of any such data, even when MOODY’S or any of its administrators, officers, workers, brokers, representatives, licensors or suppliers is suggested upfront of the opportunity of such losses or damages, together with however not restricted to: (a) any lack of current or potential income or (b) any loss or injury arising the place the related monetary instrument isn’t the topic of a specific credit standing assigned by MOODY’S.To the extent permitted by legislation, MOODY’S and its administrators, officers, workers, brokers, representatives, licensors and suppliers disclaim legal responsibility for any direct or compensatory losses or damages prompted to any particular person or entity, together with however not restricted to by any negligence (however excluding fraud, willful misconduct or some other kind of legal responsibility that, for the avoidance of doubt, by legislation can’t be excluded) on the a part of, or any contingency inside or past the management of, MOODY’S or any of its administrators, officers, workers, brokers, representatives, licensors or suppliers, arising from or in reference to the data contained herein or using or incapacity to make use of any such data.NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY CREDIT RATING, ASSESSMENT, OTHER OPINION OR INFORMATION IS GIVEN OR MADE BY MOODY’S IN ANY FORM OR MANNER WHATSOEVER.Moody’s Traders Service, Inc., a wholly-owned credit standing company subsidiary of Moody’s Company (“MCO”), hereby discloses that the majority issuers of debt securities (together with company and municipal bonds, debentures, notes and industrial paper) and most well-liked inventory rated by Moody’s Traders Service, Inc. have, previous to task of any credit standing, agreed to pay to Moody’s Traders Service, Inc. for credit score scores opinions and providers rendered by it charges starting from $1,000 to roughly $5,000,000. MCO and Moody’s Traders Service additionally preserve insurance policies and procedures to handle the independence of Moody’s Traders Service credit score scores and credit standing processes. Data concerning sure affiliations which will exist between administrators of MCO and rated entities, and between entities who maintain credit score scores from Moody’s Traders Service and have additionally publicly reported to the SEC an possession curiosity in MCO of greater than 5%, is posted yearly at www.moodys.com underneath the heading “Investor Relations — Company Governance — Director and Shareholder Affiliation Coverage.”Extra phrases for Australia solely: Any publication into Australia of this doc is pursuant to the Australian Monetary Companies License of MOODY’S affiliate, Moody’s Traders Service Pty Restricted ABN 61 003 399 657AFSL 336969 and/or Moody’s Analytics Australia Pty Ltd ABN 94 105 136 972 AFSL 383569 (as relevant). This doc is meant to be supplied solely to “wholesale shoppers” inside the which means of part 761G of the Companies Act 2001. By persevering with to entry this doc from inside Australia, you symbolize to MOODY’S that you’re, or are accessing the doc as a consultant of, a “wholesale shopper” and that neither you nor the entity you symbolize will straight or not directly disseminate this doc or its contents to “retail shoppers” inside the which means of part 761G of the Companies Act 2001. MOODY’S credit standing is an opinion as to the creditworthiness of a debt obligation of the issuer, not on the fairness securities of the issuer or any type of safety that’s obtainable to retail buyers.Extra phrases for Japan solely: Moody’s Japan Okay.Okay. (“MJKK”) is a wholly-owned credit standing company subsidiary of Moody’s Group Japan G.Okay., which is wholly-owned by Moody’s Abroad Holdings Inc., a wholly-owned subsidiary of MCO. Moody’s SF Japan Okay.Okay. (“MSFJ”) is a wholly-owned credit standing company subsidiary of MJKK. MSFJ isn’t a Nationally Acknowledged Statistical Ranking Group (“NRSRO”). Subsequently, credit score scores assigned by MSFJ are Non-NRSRO Credit score Rankings. Non-NRSRO Credit score Rankings are assigned by an entity that’s not a NRSRO and, consequently, the rated obligation is not going to qualify for sure kinds of therapy underneath U.S. legal guidelines. MJKK and MSFJ are credit standing businesses registered with the Japan Monetary Companies Company and their registration numbers are FSA Commissioner (Rankings) No. 2 and three respectively.MJKK or MSFJ (as relevant) hereby disclose that the majority issuers of debt securities (together with company and municipal bonds, debentures, notes and industrial paper) and most well-liked inventory rated by MJKK or MSFJ (as relevant) have, previous to task of any credit standing, agreed to pay to MJKK or MSFJ (as relevant) for credit score scores opinions and providers rendered by it charges starting from JPY100,000 to roughly JPY550,000,000.MJKK and MSFJ additionally preserve insurance policies and procedures to handle Japanese regulatory necessities.
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