The Austin Community College District (ACC) continues to show fiscal strength according to the latest bond ratings released by Moody\u2019s Investors Service in July 2020.<\/p>\n
\u201cACC is committed to maintaining a healthy outlook for our students and community,\u201d says Neil Vickers, ACC executive vice president, Finance & Administration. \u201cTaxpayers entrust us with their support through approving bond projects. These ratings reflect the district\u2019s strong service and dedication to using those funds wisely and responsibly.\u201d<\/p>\n
Moody\u2019s assigned an Aa2 rating to the college\u2019s $47.1 million Lease Revenue Refunding Bonds which are used for payments on the college\u2019s Hays Campus. ACC also maintains its general obligation limited tax rating of Aa1<\/a>.<\/p>\n \u201cThe stable outlook reflects our expectation that the district will continue to maintain positive budgetary performance because of strong demand and a diverse revenue source that is expected to be largely unaffected over the next year. We also expect that the Austin economy will remain strong and that the large tax base will continue to support the rating despite ongoing coronavirus related disruption,\u201d explains Moody\u2019s.<\/p>\n The rating agency also cited factors including ACC\u2019s history of financial performance, the district\u2019s large tax base, steady enrollment numbers, and increase in demand for college offerings.<\/p>\n For more information on ACC\u2019s bond projects, visit austincc.edu\/bond.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The Austin Community College District (ACC) continues to show fiscal strength according to the latest bond ratings released by Moody\u2019s Investors Service in July 2020. \u201cACC is committed to maintaining a healthy outlook for our … Continue reading