In March 2021, District staff were notified by Moody’s Investors Service that the District’s debt ratings were under review for potential upgrade.
On March 9, District staff participated in a ratings review call with analysts from Moody’s Investor Services in New York. The VUSD team responded to questions on the District's reopening plans, use and availability of CARES funding, changes in the local economy and housing, management of cash flows and reserves, enrollment, and the state of the District’s current and future budgets.
VUSD is pleased and excited to report that Moody’s announced via press release that the District’s General Obligation Bonds were upgraded to Aa2 from Aa3! Moody’s cited the District’s stable financial position that will likely continue to be healthy for at least the next few years as well as the growing tax base and conservative budgeting.
The District’s credit rating plays a significant factor in the interest rate paid for bond financing. Future Measure A bond issuance or refinancing of existing bonds will ultimately result in tax-payer savings.