DALLAS—The Dallas Independent School District’s continued improvement in its financial operations has caused the nation’s bond rating agencies to take notice.
Following the district’s best external audit in seven years and a significant increase to the district’s financial reserves, two bond rating agencies improved their outlook of Dallas ISD.
Moody’s Investors Service upgraded Dallas ISD’s bond rating from Aa2 to Aa1. The upgrade, according to Moody’s, “reflects the district’s significantly improved financial operations resulting from conservative budgeting and tightened expenditure controls supporting healthy reserve levels more consistent with the Aa1 rating.”
In addition, Fitch Ratings assigned Dallas ISD a AA rating with a Positive Outlook, up from a AA rating with a Stable Outlook.
Standard & Poor’s Rating Services reaffirmed its AA- rating to the district citing Dallas ISD’s “very strong finances; moderate overall debt based on market value,” among others.
“This is great news for Dallas ISD,” said Superintendent Mike Miles. “The upgrades in these ratings will result in savings for taxpayers and students. Thanks go to Chief Financial Officer Dr. James Terry, and Alan King before him, and the Financial Services staff whose efforts, along with tough decisions made by the Board of Trustees, have rebuilt the district’s financial health.”
Good things are happening at DISD!