91制片厂 has maintained its Aaa rating from Moody鈥檚 Investor Services, the bond credit rating company鈥檚 highest possible rating.
鈥淢aintaining our Aaa rating is a testament to the college鈥檚 sustained commitment to sound fiscal practices and the community鈥檚 ongoing support as we continue offering quality, affordable and accessible education to our students,鈥� said Dr. Avis Proctor, 91制片厂 president.
In a February 2023 report assigning its Aaa rating to Community College District 512 (91制片厂鈥檚 district), Moody鈥檚 cited the college鈥檚 large and diverse tax base, strong and stable financial reserves, and moderate debt burden. The rating also reflects the college鈥檚 low reliance on operating aid from the state.
In addition, Moody鈥檚 assigned a rating outlook of 鈥渟table鈥� based on the district鈥檚 financial position and a stabilizing enrollment trend.
The Aaa rating enables the college to obtain lower interest rates in bond sales, refinancing and refunding initiatives, benefiting taxpayers. Moody鈥檚 latest issuance was a required step as 91制片厂 prepared to issue about $5 million in bonds to fund capital projects at the college.
91制片厂 also recently learned that the Government Finance Officers Association of the United States and Canada (GFOA) awarded the college with the Certificate of Achievement for Excellence in Financial Reporting for 91制片厂鈥檚 Annual Comprehensive Financial Report for the fiscal year ended June 30, 2021. According to the judges, 91制片厂鈥檚 report meets 鈥渢he high standards of the program, which includes demonstrating a constructive spirit of full disclosure to clearly communicate its financial story and motivate potential users and user groups to read the report.鈥�