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Richland School District receives positive bond ratings

05/11/2017

Moody's Investors Service (MIS) has assigned the Aa2 rating*** to the Richland School District’s General Obligation Bonds expected to be issued in the amount of $62 million. These bonds from the February 2017 bond election also received the Aa1 enhanced rating of the Washington State School Bond Guarantee Program.

According to MIS, the Aa2 underlying rating reflects the District's sizeable and expanding tax base, strong socio economic profile, and sound financial position:

  • Strong tax base growth due to continued new construction with no declines over the

past twelve years.

  • Positive enrollment trend over the past decade expected to continue.

Read the entire MIS report at this link.  
                                      

***What is Moody’s rating scale?

The rating scale, running from a high of Aaa to a low of C, comprises 21 notches. It is divided into two sections, investment grade and speculative grade. The lowest investment-grade rating is Baa3. The highest speculative-grade rating is Ba1.

INVESTMENT GRADE

»»Aaa – highest rating, representing minimum credit risk

»»Aa1, Aa2, Aa3 – high-grade

»»A1, A2, A3 – upper-medium grade

»»Baa1, Baa2, Baa3 – medium grade

SPECULATIVE GRADE

»»Ba1, Ba2, Ba3 – speculative elements

»»B1, B2, B3 – subject to high credit risk

»»Caa1, Caa2, Caa3 – bonds of poor standing

»»Ca – highly speculative, or near default

»»C – lowest rating, bonds typically in default, little pros­pect for recovery of principal or interest