South San Francisco, CA June 2, 2015 Submitted by John Horgan SSFUSD 
The South San Francisco Unified School District has received an important upgrade in its bond rating from Moody’s Investors Services. The national bond rating firm made its decision based on the District’s outstanding financial condition.
According to Moody’s recent announcement, the District’s current $32 million general obligation bond issuance has been upgraded from an Aa2 rating to Aa1. Additionally, the District’s new $26 million general obligation bond package has received the Aa1 designation.
The Aa1 rating is coveted by public school districts and other public entities because it enables them to sell their bonds at lower interest rates, saving money for taxpayers in the process. Moody’s analysis indicated that the rating “reflects the District’s large tax base that is poised for additional growth and the District’s above-average socio-economic profile.”
Moody’s also cited the District’s “significantly improving reserves” as well as its “stable liquidity and sustained Basic Aid designation.” As a Basic Aid district, South San Francisco receives the bulk of operating revenues via local property taxes. Michael Krause, the District’s Assistant Superintendent for Business Services, said he was very pleased with Moody’s decision. He credited the District’s Board of Trustees and Administration for being “fiscally prudent with the District’s finances, thus keeping the District on a solid financial footing.”
For more information, Mr. Krause can be reached at 650-877-8702.