Standard & Poor’s Ratings Services affirmed its ‘AAA’ program rating and ‘AA’ school issuer credit rating for Round Rock ISD.
According to the report, the rating reflects the district’s healthy local economy and property tax base, its strong financial performance, high overall debt per capita, and the district’s high property-wealth-per-student ratios. Standard & Poor’s stated the district’s financial management practices are strong, well embedded, and likely sustainable. The district’s high overall debt per capita is attributed to the fast-growth and need for additional facilities.
“The district’s credit rating is a direct result of the dedication of the Board of Trustees and district employees who are committed to being fiscally responsible,” Superintendent Dr. Jesús Chávez said.
The high credit rating will allow Round Rock ISD to sell bonds without third party insurance thereby saving taxpayer dollars. The district has sold all its bonds from the 2006 and 2008 bond programs. “The excellent rating from Standard & Poor’s will ensure the district is positioned well for future bond programs,” said Ramiro Flores, Deputy Superintendent of Business Administration.