NEW YORK - Moody's Investors Service said it has upgraded to Aa1 from Aa2 the rating on Revere Local School District, Ohio's outstanding general obligation debt. The Aa1 rating applies to $5.1 million in outstanding rated general obligation debt.
The outstanding rated bonds are secured by the district's general obligation unlimited tax pledge. The upgrade of the district's credit rating incorporates its moderately-sized, affluent, residential tax base. Also reflected in the rating change is the district's healthy General Fund reserves supported by a solid election history and modest debt profile with average principal amortization.