Moody's Investors Service said it has upgraded the general obligation rating of Lancaster County School District 145 (Waverly), Neb., to Aa3 from A1.
Concurrently, Moody's has assigned a Aa3 rating to the district's $8.3 million general obligation bonds, Series 2015. Post-sale, the district will have $4.7 million in unrated general obligation limited tax (GOLT) debt and $23 million in general obligation unlimited tax debt, $19.2 million of which is Moody's rated.
The Aa3 rating reflects the district's moderately-sized, semi-rural tax base favorably located between Lincoln (Aaa stable) and Omaha (Aa2 stable) with above average socioeconomic characteristics. Also incorporated in the rating is the district's healthy general fund cash reserves; growing student enrollment; and manageable debt and pension burdens.
