In preparation for the School District of Elmbrook’s issuance of $4,175,000 General Obligation Refunding Bonds and $8,890,000 Taxable General Obligation Refunding Bonds, Moody's Investors Service has maintained the Aaa rating on the District's outstanding general obligation debt. This is the highest rating given by Moody’s and Elmbrook is one of only three school districts in the state to earn Aaa status.
According to Moody’s news release, key factors in the District’s rating include a large and growing tax base, stabilizing enrollment, strong reserves, moderate long-term liabilities and well-managed operations.
Proceeds from the sale of bonds will refund the District’s 2013 and 2014 General Obligation Refunding Bonds in order to lower the future interest expense.
“Elmbrook’s reconfirmation of Moody’s highest rating showcases our District’s approach to financial sustainability, as well as saves the district thousands of dollars each year in borrowing costs,” said Kristin Sobocinski, Assistant Superintendent for Business Services.