Moody's Investors Service has assigned an Aaa rating to the Colonial School District's $19 million General Obligation Bonds, Series A of 2017. Moody's has also upgraded the rating of the District's outstanding general obligation debt from Aa1 to Aaa.
In upgrading the District to its highest rating, Moody's noted Colonial's large and growing tax base with above average resident wealth and income, healthy financial reserves and liquidity position, strong management and average debt and pension obligations. Also cited was the District's practice of multi-year budgeting and capital planning.
Moody's, judges obligations rated Aaa to be of the highest quality and subject to the lowest level of credit risk.
"I have always known the District to have solid fiscal planning and budgeting practices," said School Board President Susan L. Moore. "This upgrade is further evidence of that. We are proud to be on such solid financial footing while maintaining one of the lowest tax burdens in southeastern Pennsylvania."
Colonial is one of just seven districts in the Commonwealth to have an Aaa rating.