WISD Bond Rating upgraded to A3

  Waller ISD Assistant Superintendent for Finance Mike Marcus announced this week that Moody’s Investor Services has upgraded Waller ISD’s underlying bond rating from Baa1 to Aaa. The upgrade affects $52.4 million in outstanding parity debt.
  According to Marcus, the upgrade was prompted by several factors: 1) the district’s solidly expanding tax base, 2) the district’s improving financial position, 3) the district’s socio-economic profile, and 4) the district’s manageable debt profile.
  “A Moody’s rating of a public entity is much like an individual’s credit rating,” Marcus explained. “The more credit worthy a school district is, the lower the interest rate, and the greater the savings to the district.”
  The district’s $7.7 million Unlimited Tax School Building Refunding Bonds, which recently went to sale, will generate a 7.9% net present value savings to the district and lower the district debt obligations by $52,000-$57,000 per year over the next ten years.
  “Upgrades of school district bond ratings are very rare,” said WISD Superintendent Richard McReavy. “That Moody’s – a respected worldwide credit rating service – would upgrade our bond rating tells us that WISD’s financial position is very positive. I commend the Waller ISD Board of Trustees, Mr. Marcus, and the Business Office staff.”