Moody’s Investors Service maintained its Aaa rating on Richardson ISD’s credit ahead of the recent sale of $179.2 million of Series 2021 school building bonds.
Standard & Poor’s also affirmed its AA-plus underlying rating on the district’s general obligation debt due to RISD’s “good fiscal management practices” that are bolstered by “conservative budgeting that supports positive financial performance and very strong reserves.”
Moody’s analysts cited RISD’s “very strong financial position, manageable fixed costs and healthy economy with access to the greater Dallas metropolitan area,” in assigning its rating.
Richardson ISD is one of a handful of Texas school districts that maintain the highest possible bond ratings. This lowers the costs of issuance and results in further cost savings as the gilt-edged ratings enable RISD to achieve the lowest possible interest rate on the debt.