Moody's Investors Service said it has upgraded Kenosha Unified School District 1, Wis.'s general obligation rating to Aa3 from A1.
Concurrently, Moody's has assigned a Aa3 to the district's $31.6 million GO corporate purpose bonds, Series 2015. Post-sale, the district will have $116.4 million of outstanding GO debt.
The Aa3 rating reflects the district's large tax base, healthy reserve levels that have strengthened in recent years, marked improvement in management practices compared to previous years, an average debt burden and payout, and affordable pension liabilities.
