Fitch Ratings affirmed the Round Rock ISD rating of AAA for bonds guaranteed by the Permanent School Fund and AA+ with a positive outlook for debt issued based on the district’s financial condition, making Round Rock ISD the highest Fitch rated Texas school district.
Fitch, a financial information services firm, reviewed the Round Rock ISD credit rating assigned to outstanding bonds as part of its ongoing evaluation process in July 2014. This review included an updated analysis of economic and property value data, district financial performance, fiscal management practices and future capital needs.
“This positive news from Fitch Ratings affirms that we have the right people in place in our business office and in our leadership as we responsibly serve the students of Round Rock ISD,” Superintendent of Schools Dr. Steve Flores said. “This district has found solutions despite financial challenges brought by declining state revenue and increasing enrollment. I commend the work of our business team and Board of Trustees in putting our schools in a position to be world class for students while remaining fiscally strong.”
The ratings reported included comments on the Round Rock ISD financial condition and outlook, attributing the district as having exemplary financial performance, a moderating debt profile, robust tax base growth, a strong demographic profile and a healthy local economy with maturing enrollment profile.
Round Rock ISD bonds are also rated by Moody’s Investor Services and Standard & Poor’s Rating Services. Round Rock ISD is one of seven Texas school districts with AAA bonds rated by Moody’s, its highest achievable rating. S&P rated the district’s bonds AA.
