S&P Upgrades Rochester School District's Bond Rating

ROCHESTER, MI – Rochester Community Schools officials can take some recent news from Standard & Poor’s Rating Services to the bank.

The ratings agency upgraded the district’s long-term credit rating to AA- with a stable outlook for $128 million in unlimited-tax general obligation bonds — an upgrade from the previous AA- with a negative outlook, The Oakland Press reports.

What that means is that lenders that the district can now borrow money at a lower interest rate because investors see less risk in the loans.

S&P said the upgrade reflects the district’s “access to wider Oakland County economies; very strong income and extremely strong market value per capita; overall stable enrollment, which ties directly to revenue; and strong budget flexibility, evidenced by strong reserves.”

The $128 million in bonds are expected to be offered in the coming days to finance technology, facility, safety and security improvements.