Moody’s Investors Service last week upgraded St. Peter Independent School District 508’s general obligation rating one notch to Baa1, affecting $1.6 million of debt. Analysts said they expect the district’s financial position will remain stable given management’s conservative budgeting practices and reserve policy.

The Baa1 rating is supported by a moderately sized $1 billion tax base that benefits from a favorable location in Nicollet County within the Twin Cities/Mankato growth corridor. The tax base is expected to continue to grow but at a slower pace due to the current economic environment and softening of the real estate market.

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