Rating Agencies Affirm ACC’s Fiscal Strength

Recent bond ratings for the Austin Community College District show continued fiscal strength.

Fitch Ratings assigned AA+ ratings to $35 million in limited tax refunding bonds, series 2011, and $94.5 million in outstanding limited tax bonds.

Standard & Poor’s assigned an AA+ long-term rating to the limited tax refunding bonds and affirmed AA+ ratings on the college’s limited tax bonds outstanding and lease revenue bonds outstanding.

Moody’s assigned an Aa1 rating to the limited tax refunding bonds and affirmed its Aa1 rating on the college’s outstanding parity debt and an Aa2 rating on lease revenue bonds.

“These are excellent ratings that reflect ACC’s solid financial position,” says Ben Ferrell, executive vice president for finance and administration. “We are committed to being good stewards of the funds entrusted to us by our taxpayers and students.”

The rating agencies cited factors including ACC’s history of sound fiscal practices, the district’s sizable tax base, competitively-priced education, and continued demand for college offerings.

To read more about the ratings, visit ACC’s business reports webpage; see the general obligation tax bonds section.

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