CHICAGO -- Moody's Investors Service upgraded Winterset Community School District in Iowa to A1 from A2.
The May 11 action impacts $7.2 million of rated general obligation bonds. The district has a total of $9.8 million of GO bonds and $5.8 million of sales and use tax bonds.
The upgrade reflects the district's modestly sized but growing tax base, its favorable location within the Des Moines metropolitan area as well as an improved financial profile supported by healthy reserve levels. The district's enrollment is stable and it has manageable pension obligations but it has an elevated debt profile.
The district is in about 35 miles southeast of Des Moines with enrollment of 1,725 students.
