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PYLUSD Bond Rating Increased

Wall Street Upgrades School District Bond Rating

Moody’s Investors Service announced that the Placentia-Yorba Linda Unified School District’s bond rating was upgraded from Aa3 to Aa2 as part of the firm’s conversion to a unified global rating scale. This places municipal issuers, such as school districts and cities, on the same rating scale used for private industry. In comparison, Moody’s currently rates the State of California’s general obligation bond at Baa1 – which is five notches below the school district rating.

Ratings of this type are a key factor in determining the interest rates on the district’s general obligation bonds. The higher rating makes the school district attractive to a larger pool of investors, which in turn helps to lower interest rates.

“This is great news,” said Superintendent Dennis Smith. “This allows us to continue planned school modernization programs that make remarkable transformations in classrooms while stretching every dollar provided generously by our taxpayers.”

Moody’s has consistently viewed the district’s local economy, large tax base and strong financial management favorably. Despite the State of California’s budget impact on local school districts, Moody’s continues to believe that the Placentia-Yorba Linda Unified School District Board and administration will make necessary adjustments to maintain the school district’s fiscal strength.
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