Lincoln-Way District 210 Achieves 'Historic' Aa3 Bond Rating

FRANKFORT, IL — Lincoln-Way Community High School District 210 has announced that Moody’s Investor Service has officially upgraded the district’s bond rating from A1 to Aa3.

"This prestigious designation represents the highest credit rating in the district’s history and signals the culmination of a decade-long financial recovery driven by steadfast fiscal management and shared governance," a news release from the District states.

The District has been able to increase its rating over the past 10 years. In 2016, the District faced a Ba1 rating, which is below investment-grade status.

The District said that the Board of Education and administration implemented improved policies and financial practices, and saw an upgrade in 2019 to Baa3.

In 2022, the Board took further action to restructure $130 million of district bonds, locking in a 1.76 percent interest rate and reducing the district’s outstanding debt by approximately $22 million, according to a news release. The District saw an upgrade to A2 in 2022, and to A1 in 2024.

Moody’s cited the restructuring efforts and flattening of annual debt payments as a key factor in the latest upgrade, the District said.

With the new "Aa" category on Moody's rating scale, the District is now in a category judged to be of high quality and are subject to very low credit risk.

“This is a milestone for our district,” said Superintendent Dr. Scott Tingley. “And this rating validates the hard work, transparency, and discipline that multiple Boards, administrative teams, and all Lincoln-Way staff have maintained. This upgrade is a clear indicator to our taxpayers that Lincoln-Way is operating with strong financial stewardship.”