Moody’s Investors Services recently published a new methodology for U.S. public school districts and bond sale ratings. Based on the new methodology, Moody’s Investors Service, upgraded Peoria Unified School District’s “general obligation unlimited tax” bond rating from “A1” to “Aa3.”
The rating change affects the following bond issues:
•Refunding Bonds, Series 2012
•School Improvement Bonds, Series 2013
•School Improvement Bonds, Series 2014
•School Improvement and Refunding Bonds, Series 2015
“Bond rating agencies consider cash reserves and fund balances when rating school districts. This upgrade is a reflection of the district’s commitment to transparency and fiscal responsibility,” said Peoria Unified CFO Michelle Myers. “This demonstrates the district’s ongoing commitment to our community and the stewardship of district resources. I am pleased that we have received this upgrade.”
Peoria Unified School District is home to 42 public schools with more than 37,000 students and 4,000 staff, serving as one of the largest employers in the West Valley and one of the largest unified school districts in Arizona.
The district has programs spread out between 34 kindergarten through eighth-grade elementary schools and eight high schools. The district’s strategic plan outlines a focus on four key areas: Student Success, Safety and Well-Being, Stewardship of Community Resources and Community Connection.