Ohlone College's High Credit Ratings Result in Taxpayer Savings

In August Ohlone Community College District successfully sold its second installment of Measure G bonds –$75M in Series B Bonds. The District received some of the highest ratings given to any public agency in the state of California from Moody’s Investors Service and Standard & Poor’s Rating Agency.

The District was rated a Double A2 and Double A for the second issuance of Measure G bonds. Because of the District’s exceptiona lcredit ratings and extremely favorable market conditions, the District received strong interest in our bonds from banks, money managers, and retail investors.As a result,the District achieved an excellent borrowing rate and an extremely low debt service repayment ratio of 1.94:1, well below the statutory maximum of 4:1.

Ohlone College’s consistently prudent management policies and resulting strong credit ratings provide the benefit of highly competitive interest rates on bond financings, representing an excellent deal for District taxpayers.

Information submitted by Ohlone Community College District