MISD Retains 'Triple-A' Bond Rating Ahead of Jan. 5 Meeting

Credit-rating agency Moody's upheld 's top-notch reputation for repaying debt and changed its outlook from "negative" to "stable", according to a school district press release.

MISD superintendent Dr. Gary Plano was notified in mid-December, 2011 by Moody’s Investors Service that it had completed its assessment of the district’s rating outlook. Moody's has revised the outlook to 'stable' thus maintaining its "Aaa" rating.

The rating endorsement comes at a crucial time for the MISD as the school board at today's Jan. 5 public hearing at 1 p.m. at  considers the size and scope of any bond to be placed before voters on the April ballot (PDFs of the meeting's agenda and the size and scope of the bonds can be found by clicking on the images to the right). The highest credit rating from agencies like Moody's will ultimately lower the cost of borrowing for the school district, which is considering a school rebuilding bond raging from $104-$108 million up to $208-$212 million.

The investment rating agency had that it may downgrade the district's credit rating — along with hundreds of other public agencies — citing uncertainty in Washington D.C.'s as the culprit.

The Mercer Island School District press release went on to state that the MISD is only one of five school districts in the state with the highest rating outlook.

“I am pleased and relieved to know that Moody’s has maintained our excellent credit rating to be among the highest in the country,” said Plano.