Fitch Ratings on Friday affirmed the Oregon School Bond Guaranty program at AA-plus with a stable outlook. The affirmation is part of Fitch’s continuous surveillance effort.
State law allows Oregon to pledge its full faith, credit, and taxing power to guarantee bonds issued by participating school districts, which must apply to the state Treasury.
The rating is on par with Fitch’s rating for Oregon’s general obligation bonds.
The program currently guarantees about $3.2 billion of school debt issued in 208 different series, according to Fitch.