Photo Credit - Sheboygan Area School District
An area school district is celebrating a boost to its Moody Rating.
The Sheboygan Area School District saw its rating jump from an Aa2 to an Aa1.
The ratings indicate a district’s financial health and creditworthiness, with a Aaa being the top possible rating.
According to Moody’s, the upgrade to Aa1 is driven by a consistently stable financial position supported by strong budgeting practices, and relatively low debt.
The Aa1 rating reflects the district’s strong financial position, with fund balance and cash ratios consistently above 30%.
With its new rating, the SASD sits among the upper echelon of those on the Moody Ratings scale.
In fact, only 12 other districts have rated as high or higher than the Sheboygan Area School District.
SASD Superintendent Dr. Jacob Konrath calls the news a big deal for local taxpayers, as it will “lead to lower interest rates on bonds and will decrease the amount of taxes levied by the district to finance the middle school projects.”
Those projects at Urban and Farnsworth Middle Schools are set to cost the district $114 million and include a rebuilding and remodeling of both schools.
