Moody's Upgrades GISD
A national independent credit rating agency, Moody's Investors Service, has upgraded Georgetown Independent School District’s debt rating from Aa2 to Aa1.
Moody's has assigned a Aa1 underlying and Aaa enhanced ratings to the district's $35 million Unlimited Tax School Building Bonds, Series 2017 which was authorized by voters in the November 2015 bond election.
The upgraded rating to Aa1 is based on:
· recent and ongoing growth in district's large tax base,
· above average wealth indicators, and
· stable financial position underpinned by strong financial management
The Aa1 rating also incorporates the district's elevated debt burden with slow principal amortization. The Aaa enhanced rating is based on the rating of the Texas Permanent School Fund (PSF) and the structure and legal protections of the transaction which provide for timely payment by the PSF if necessary. To view the final report, click here.