School District Retains Triple A Rating

Earlier this month, the Rye City School District was notified that it has retained its Aaa bond rating from Moody’s Investors Services.

Published May 9, 2013 6:02 PM
1 min read

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Earlier this month, the Rye City School District was notified that it has retained its Aaa bond rating from Moody’s Investors Services.

 

Earlier this month, the Rye City School District was notified that it has retained its Aaa bond rating from Moody’s Investors Services. The rating has been assigned to the District’s $16.35 million in serial bonds for 2013.

 

“Our Board and Administration have worked hard to achieve this rating, which is good news for our District and our taxpayers,” said Superintendent of Schools Dr. Frank Alvarez. “Bond proceeds will be used for the High School addition project, and lower borrowing costs will result in greater savings for taxpayers.”

 

According to the Moody’s report, “The Aaa rating reflects the District’s healthy financial position with ample reserves, sizeable and affluent tax base, and favorable debt profile.”

 

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