Fitch Ratings has affirmed the Salt Lake City School District’s General Obligation (GO) bonds rating at the prestigious ‘AAA’, the highest rating available. This achievement, announced last week, reflects the district’s strong financial management and stability and highlights its ability to maintain this top rating for over 25 years.
The ‘AAA’ rating is important, because it signals to investors that the district is a low-risk borrower, allowing the district to secure lower interest rates when funding projects. This means the district can borrow money at a lower cost, ultimately saving taxpayer dollars. As the district looks to fund future projects aimed at improving school facilities and student learning environments, this rating is key.
“This ‘AAA’ rating is a clear sign of our district’s sound financial practices and long-term planning,” said Alan Kearsley, Salt Lake City School District Business Administrator. “For over 25 years, we have consistently maintained this rating, which allows us to borrow at lower costs and invest more in our schools and community.”
Maintaining this rating for more than two decades positions the district well for future financial decisions, reinforcing confidence in its ability to responsibly manage resources for the benefit of students, families, and taxpayers.
