Moody's Investors Service said it has upgraded to Aa1 from Aa2 the rating of San Marino Unified School District, Calif.'s outstanding long term general obligation debt in the amount of $13.6 million.
The Aa1 rating incorporates the district's strong, continuous assessed value growth; high wealth, income, and median home sale value indices; strong financial reserves and robust alternate liquidity that is expected to persist; and low debt burden.
San Marino Unified School District's general obligation rating reflects the strength of the voter-approved, unlimited property tax pledge that secures the debt service levy. Also taken into consideration is the secure nature of debt collection in which the county levies, collects, and disburses the district's property taxes, including the portion restricted for the school district's general obligation debt service.
