South Fayette Township School District, Allegheny County, Pennsylvania
General Obligation Bonds
consisting of:
$3,100,000* Series A of 2020
$2,495,000* Series AA of 2020

(1) Moody's Investors Service has assigned an Aa2 (Underlying) rating to the Bonds.

(2) In accordance with the "Municipal Bond Insurance and Credit Rating" section of the Invitation to Bid for the Bonds, bidders only have the option to bid for the Bonds without insurance, or with insurance from one of the following insurers at the respective premiums:

     Insurer   Premium
     -------   -------
     BAM       $19,800

The cost of insurance and rating will be paid by the issuer.

*Preliminary, subject to change

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