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November 17, 2016
Polk County Public Schools has maintained its positive scores from Fitch Ratings, a leading credit ratings and research firm.
The school district’s $46.7 million in sales tax bonds are rated A- (high quality), and $47.9 million in outstanding certificates of participation are rated A+. The district received an issuer default rating of AA- (very high quality).
Those scores reflect “solid growth prospects for pledged revenues … solid prospects for enrollment-driven revenue growth … a low long-term liability burden and adequate reserves,” according to Fitch’s report.
The rating outlook for Polk County Public Schools is “Stable,” the report said. For more information, visit http://bit.ly/2eL5Q8O.
Bond ratings are similar to an individual’s credit score, and assess the credit-worthiness of corporate and government bonds. Investors use these ratings to determine an organization’s ability to repay its debt.
Analysts determine an organization’s bond ratings from their cash reserves, revenue trends, stability of costs, and income.