Moody's Investors Service said it has upgraded Winterset Community School District, Iowa's general obligation unlimited tax rating to A1 from A2.
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The district has $9.8 million in outstanding GOULT debt, $7.2 million of which is rated by Moody's. The district also has $5.8 million in outstanding sales and use tax revenue bonds not rated by Moody's.
The upgrade reflects the district's modestly sized but growing tax base, favorably located within the Des Moines (Aa2 stable) metropolitan area; improved financial profile characterized by healthy reserve levels; stable district enrollment; elevated debt profile; and manageable pension obligations.
