S&P Global Ratings, the renowned business and financial information corporation, recently raised St. Vrain Valley Schools’ long-term rating and underlying rating to ‘AA+’ from ‘AA’ on existing general obligation (GO) bonds. In addition, S&P Global Ratings assigned its ‘AA+’ long-term rating and underlying rating to the district’s series 2018 GO bonds (estimated $60 million par amount).
In their analysis of St. Vrain’s financial health, S&P recognized the district’s:
- Large and diverse economic base, coupled with strong to very strong income indicators and access to the broad and diverse Denver and Boulder metropolitan statistical areas;
- Maintenance of very strong available fund balances, along with positive general fund results in consecutive audited fiscal years;
- Additional revenue flexibility through fixed mill levy overrides, which helps the district lower its reliance on state funding;
- Continued trend of enrollment increases in a growing community;
- Strong financial management policies and procedures; and
- Low overall debt as a percentage of district market value.
“We have benefited from tremendous community support and one of our highest priorities is to ensure the continued fiscal health of the district,” said Greg Fieth, Chief Financial Officer of St. Vrain Valley Schools. “We have one of the strongest financial positions of any district in Colorado and through careful planning and strategic investments into our schools and programs, we have been able to continually elevate the quality of our schools and their greater impact on our community.”
In addition to the increased credit rating from S&P Global, the Financial Services Department of St. Vrain Valley Schools has been recognized since 2004 with the “Certificate of Achievement for Excellence in Financial Reporting” by the Government Finance Officers Association and the “Certificate of Excellence in Financial Reporting” from the Association of School Business Officials.
Download the full statement from S&P Global and the full credit report.