After a thorough review of the district's financial reports, Moody's Investors Service, a leading provider of credit ratings, research and risk analysis, has upgraded Radnor Township School District's bond rating from Aa2 to Aa1 effective May 28. The action comes as a result of several years of administrative efforts to upgrade the district's bond rating.
Per Moody's report: "The upgrade to Aa1 reflects the sustained strengthening of the district's financial position over the past five years, resulting in a healthy financial position and strong cash levels."
A bond rating is critical in determining the interest rates the district can secure when its bonds are marketed. The higher the rating, the more investors are interested in securing the district's bonds, which translates to lower interest rates and more significant savings to taxpayers on future debt payments.
The upgrade also removes the need for the district to purchase bond insurance, which can be a costly closing expense in any bond issuance.
"The rating speaks volumes about our district, community and overall financial strength," said RTSD business administrator Tim Vail.
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