The Standard & Poor’s Ratings Services has given the St. Joseph School District an A+ rating.
In a news release from the district it says the rating was assigned for the school issuer credit rating for the 2014 general obligation of school building bonds.
“The rating rationale affirms the District’s bond rating and outlook,” said Todd Goffoy, Manager Dir., Public Finance Investment Banking Piper Jaffray & Co. “S&P continues to view the District favorably and recognizes the stable economy, strong fund balances, strong financial management and low debt burden.”
The A+ ICR took into consideration the District’s creditworthiness in diversifying economy, cash balance, financial management and net debt burden.
According to the district bonds also received an enhanced bond rating of AA+ through participation in the Missouri Direct Deposit Program.
The bonds are the final series of $42-million approved by voters in 2012 for the construction of two elementary schools and air-conditioning improvements at other district facilities.