This post was contributed by a community member. The views expressed here are the author's own.

Health & Fitness

Community Update

Moody’s Investors Service has assigned Township High School District 113 a Aaa credit rating, noting its strong financial position and fiscal management.
District 113 decided to seek the rating from Moody’s – one of the largest credit rating agencies in the world -- after voters approved an $89 million referendum for Deerfield and Highland Park High School improvements in April, 2013. Standard and Poor’s affirmed District 113’s AAA bond rating earlier this year. A credit rating evaluates the credit worthiness of a debtor – in this instance, District 113 – and assesses its ability to pay back the debt.
“District 113 and the Board of Education put great emphasis on conservative decision making and fiscal responsibility,” George Fornero, District 113 Superintendent, said. “Top credit ratings from Moody’s and S&P will help District 113 qualify for the lowest interest rates available when issuing bonds.” District 113 is one of ten school districts in Illinois to have triple A ratings from Moody’s and S&P. It is one of only three high school districts to obtain both triple A ratings. “The Aaa rating reflects the district’s large tax base with a favorable location within the Chicago metropolitan area, strong financial position with ample reserves, and modest debt burden,” Moody’s analysts stated. “We expect the district will maintain its strong financial position due to stable revenues and conservative financial management.”

We’ve removed the ability to reply as we work to make improvements. Learn more here

The views expressed in this post are the author's own. Want to post on Patch?