District gets a AAA

The Kroll Bond Rating Agency has assigned a AAA bond rating with a Stable Outlook to Dallas ISD, the highest bond rating a school district in Texas can achieve and is similar to an individual’s credit rating. This rating means the district can obtain the lowest interest rate borrowing costs in the bond market, which achieves millions of dollars in interest cost savings. 

“Congratulations to Chief Financial Officer Ed Ramos, who successfully argued our case to the Kroll Bond Rating Agency, resulting in a AAA bond rating,” said Superintendent Stephanie S. Elizalde. “This is not just a testament to the wise fiscal oversight of this board. It also means we will save millions of dollars in completing our bond work, and that savings goes right back into construction projects to get more for our students.”

According to KBRA, the long-term credit rating reflects the district’s strong financial management policies and practices guided by an experienced leadership team,

favorable financial operating performance supporting solid reserve and liquidity levels, a mature and diverse economic base that has experienced continued growth, particularly in terms of its property taxing base, and what KBRA considers to be a well-managed and conservative debt profile. 

The Stable Outlook reflects KBRA’s expectation that management will continue to effectively manage the district’s finances while balancing the need to remit recapture revenues to the state, the tax base will continue to grow, and that Dallas ISD’s overall net debt profile will remain conservative and well-managed as the district addresses its capital needs though the anticipated issuance of additional debt obligations.