On February 3, 2022, College Place School District received a rating upgrade from bond rating agency Moody’s Investors Service. Moody’s cited the district’s history of well-managed finances, an expanding economy, and growing enrollment in its report.
The Moody’s review is a component of the preparation process for refinancing its 2012 bonds later this month. The district has been monitoring bond market conditions and hopes low interest rates will allow the district to exceed their savings target.
Superintendent Jim Fry said, “We are pleased to have a highly regarded third party recognize our district’s strengths and excellent financial management. With the bond refunding we look forward to passing along interest rate savings to our community’s taxpayers.”
Moody’s assigned its ‘Aa3’ credit rating to the bonds, up from the previous rating of ‘A1’.
The Bonds will also carry the enhanced rating of “Aaa” from Moody’s, because the bonds will be sold using the State School District Credit Enhancement Program. The upgrade in the district’s rating can be expected to attract investor interest and contribute to lower borrowing costs.