Standard & Poor, one of the nation’s top three rating agencies, recently upgraded Octorara Area School District's general obligation (GO) bond rating from A to A+, reflecting the district's improved financial position.
The long-term rating reflects Standard & Poor's opinion of the district's stable financial management and several positive economic conditions including:
- Access to stable, diverse employment bases in Chester and Lancaster counties
- Good income and extremely strong property wealth levels
- A strong reserve position, coupled with a sound and stable revenue mix
- A moderate to moderately high debt burden
"The short term effects of the improved bond rating,” according to the district's business manager, Dan Carsley, “will be recognized when the new bonds are settled. The premium on the bond insurance could be reduce approximately $5,000" annually.
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