Leading Credit-Rating Agencies Assign Positive Financial Outlook for Scottsdale Unified
SCOTTSDALE, Ariz. (July 11, 2019) – The Scottsdale Unified School District (SUSD) has received positive news from Moody’s Investor Services and Standard & Poor’s Global Ratings. Both financial rating agencies have updated their credit analysis of SUSD’s finances.
Moody’s Aa1 stable rating reflects a “stable outlook” for SUSD and “expectations that the district’s financial position will remain sound” along with strong financial controls. The upgrade in Moody’s long-term credit outlook for SUSD represents the recognition of a healthy economy in the 115 square miles and estimated population of 240,476 encompassed within the District's boundaries. At the same time, Standard & Poor’s Global Ratings credit review of SUSD General Obligation 2019c series bonds resulted in a new rating of ‘AA/Stable,’ while affirming the long-term credit outlook for the District as ‘AA/Stable.’
“We continue to move forward with so much momentum, not only in our classrooms, but in our financial stability and transparency,” said Dr. John Kriekard, Superintendent. “This very strong credit rating provides us with another external, independent assessment that we continue to move the district in a positive direction. We are thrilled to start the 2019-2020 school year on this tremendously encouraging note.”
In its report, S&P’s analyst stated, “The district’s financial performance has remained very strong, in our view, supported by continuous growth in the tax base, proactive management of the budget, and additional budgetary flexibility.”
“We view this type of strong credit rating as a necessary ingredient in the overall financial health of the District, putting us in a position to further improve aging schools, modernize curriculum and retain excellent staff,” said Kriekard. “The affirmed, long-term financial stability of our District is something that gives us an edge in the competitive educational market in Arizona. Coupled with our extraordinarily talented teaching staff, the Scottsdale Unified School District is a premier choice for students.”
Moody’s defines its Aa1 stable rating as obligations “judged to be of high quality and are subject to very low credit risk.” Standard & Poor’s AA/Stable rating “differs from the highest-rated obligations only to a small degree. The obligor's capacity to meet its financial commitments on the obligation is very strong.”
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About the Scottsdale Unified School District
Located northeast of metropolitan Phoenix, the District serves the educational needs of students and families of 23,000 students across 29 campuses. Approximately 240,476 people reside within its boundaries. The District’s award-winning academic, arts and athletic programs draw students from Phoenix, Paradise Valley, Fountain Hills, Tempe and Scottsdale. A highly experienced, professionally certified teaching staff fosters a diverse and rigorous educational environment to develop the potential in every individual learner. Offering gifted learning, special education, career and technical education, and a variety of athletics, arts and enrichment programs and clubs, SUSD provides the rich environment today’s students need to explore their interests, develop important social skills and grow into tomorrow’s leaders. For more information, visit and follow along on social media: : @ScottsdaleUSD, : @ScottsdaleUSD, : @ScottsdaleUnifiedSD, , and .
Media Release: Leading Credit-Rating Agencies Assign Positive Financial Outlook for Scottsdale Unified