Moody’s Investors Service upgraded to A1 from A2 the rating on Rosemount, Minn., Intermediate School District 917’s $7.8 million of outstanding lease revenue bonds.

The A1 rating reflects the essentiality of the project being financed, the annual risk of non-appropriation by the school district, and the availability of a dedicated, though limited, capital levy to fund lease payments.

Also incorporated into the rating is the limited revenue-raising ability of the obligor, the general obligation credit characteristics of the nine member districts, and the favorable location of Dakota County, which has a Aaa rating and a stable outlook, in the Twin Cities metro area.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.