Moody's Lists College of the Desert as Stable

From COD: Moody’s Investors Service has assigned an Aa2 rating and a stable outlook to all of College of the Desert’s rated General Obligation (GO) Bonds. The Aa2 rating reflects the Colleges’ “very large and growing tax base, below- average socioeconomic profile, and solid financial profile supported by fiscal prudence,” Moody’s wrote in its ratings analysis.

“The stable outlook reflects our expectation that the district's tax base will continue to grow, financials will remain healthy, and debt and pension burden will remain manageable.” Among the bonds receiving the Aa2 rating is the college district’s $50 million GO Bond, Election of 2016, Series 2018 -- proceeds of which will finance acquisition and construction of facilities for College of the Desert.

In November 2016, Coachella Valley voters overwhelmingly approved a $577.8 million bond measure to invest in the future of the College and its students. Funds will be dedicated to building a Palm Springs Campus, reducing overcrowding by building new classrooms and laboratories throughout the valley, and expanding educational opportunities and access to meet the expanding needs of the desert community and economy.

Photo: attached, credit Renee Schiavone