Standard & Poor’s last week upgraded by one notch to A-plus its rating on the Plymouth Joint School District due to its maintenance of strong reserves.
“Other credit factors are the district’s local economy dominated by food processing and access to additional employment opportunities in nearby Sheboygan … good income levels, recent history of budget cutting that has kept general fund reserves at strong levels despite recent drawdowns, and low overall debt burden with rapid amortization,” said analyst John Kenward.
The review was conducted as the district prepares to sell general obligation bonds to repay a loan from the state trust fund that covers the district’s unfunded pension liability to the Wisconsin Retirement System.
