Contact Information:
Elaine Bobo, Executive Director of Communications
304-267-3500
Release Date: April 19, 2023
Berkeley County Schools Receives Underlying Bond Ratings from Moody's and Standard & Poor's
Berkeley County Schools submitted applications to Standard & Poor’s Global Ratings (S&P) and Moody’s Investor Service to secure ratings for the upcoming sale of its $124,940,000 Public School bonds, Series 2023 (the Bonds) scheduled for Thursday, May 4, 2023.
Based upon the credit worthiness of Berkeley County Schools, Moody’s has assigned an ‘Aa3’ underlying rating and S&P has assigned an ‘AA-’ program rating, based on the participation of the West Virginia Municipal Bond Commission. In addition, S&P has assigned an A+ underlying rating. These are investment grade ratings.
“We are especially proud of these ratings, which demonstrate the strength of our school district. Our community supported the passage of the largest school bond in the history of West Virginia, and these ratings make me proud and appreciative of the collaborative work accomplished by our community and staff,” said Berkeley County Schools Superintendent Ronald Stephens. “These quality ratings will improve the marketability of the upcoming Bond sale, attracting a larger base of investors with the goal of securing the lowest interest rate on the bonds.”
In its rating report, S&P highlighted the school district’s strong market values and tax base growth resulting from steady population increases. The Moody’s positive bond rating points to solid property wealth and resident incomes with strong enrollment and population growth. Additionally, both rating agencies pointed to the Board's improved financial position in recent years due to its prudent management and budgeting practices.
To learn more about the S&P and Moody's ratings, please visit:
