Moody’s Investors Service upgraded the Waubonsee Community College District 516 one notch to Aa1 in recognition of its large and growing tax base and strong fiscal position.
The rating action came ahead of the district’s $37.3 million general obligation sale of mostly refunding bonds this week for present-value savings and restructuring. It affects $78.4 million of debt.
The district benefits from a growing tax base that includes five counties, healthy reserve levels, and manageable debt levels with no future borrowing on the radar. Challenges include a high debt burden when overlapping entities are counted.
