WISD Earns Upgraded Bond Rating

Standard and Poor’s Rating Services has upgraded Weatherford ISD’s bond rating to an AA- from an A+ following a recent bond rating review. This new rating covers the $74.9 million worth of Unlimited Tax School Building Bonds. In assigning the upgraded rating, S&P noted, “We base the upgrade on the District’s consistent budgetary performance, which has experienced four consecutive years of surpluses, and maintenance of strong reserves.”

Analysts also applauded the District for its
• very strong financial position,
• expanding tax base,
• stable enrollment growth.

WISD’s bond rating was also assigned an Aa3 rating by Moody's Investors Service, which is the equivalent rating to Standard and Poor’s AA- rating.

“Weatherford ISD has solid processes and procedures in place to ensure fiscal responsibility as we manage taxpayer dollars. The District’s bond rating is an important criterion for our taxpayers’ consideration. A school district’s bond rating is very similar to your personal credit rating. For our District, a higher bond rating means we can sell our bonds at a lower interest rate,” said Dr. Jeffrey Hanks, Weatherford ISD Superintendent. “These ratings will save Weatherford ISD taxpayers hundreds of thousands of dollars over the term of these bonds.”

Published June 30, 2015 Print