April 24, 2018
KNN Public Finance
In February 2018, the San Diego Community College District achieved a rating upgrade to ‘AAA’ from 'AA+' from Standard & Poor’s for its outstanding General Obligation Bonds. Moody’s Investors Service also assigned a rating of ‘Aaa’ to the District’s bonds in October 2016 and at the same time upgraded the District's outstanding debt to 'Aaa' from 'Aa1'. The ‘Aaa’/’AAA’ ratings are the highest credit ratings an issuer can receive from these rating agencies.
The District set the goal of ‘AAA’ ratings for its October 2016 issuance of new money and refunding General Obligation bonds. Working in partnership with KNN, a rating strategy was developed that proved to be effective in achieving the District's goal. The ‘Aaa’/’AAA’ ratings are a testimony to the strong management, financial standing, and tax base of the District and represent a significant accomplishment for the District and the community college system.
Congratulations to the District on its ‘Aaa’/’AAA’ credit ratings and the District’s recognition as one of the top-rated Community College Districts in the country.
Link to San Diego CCD's Press Release: