header logo
Quick Links
Superintendent
Board of Education
Quality Profile
Lunch Menus
ProgressBook
The Orange Story
follow us
facebook
twitter
youtube
constant contact
Orange Affirms Status as Ohio’s Only Double Triple-A Rated K-12 School District
April 03, 2017
Orange Affirms Status as Ohio’s Only Double Triple-A Rated K-12 School District
Aaa / AAA -- Moody’s Investors Service / Standard & Poor’s Global Ratings


Pepper Pike, OH – April 3, 2017 – The Orange City School District proudly announced today to the community that the district has affirmed its AAA Rating from Standard and Poor’s (S&P) Global Ratings and Aaa Rating from Moody’s Investors Service. Orange is the only K-12 Ohio School District to hold the top credit rating from two agencies. The Orange City School District first earned this status 13 years ago.

These ratings will allow Orange taxpayers to save on debt service costs over the next 10 years by refinancing bonds issued for building the current Moreland Hills School and a wide variety of other campus and facility improvements. Voters authorized these improvements in 1998.

“A combination of the support the community has shown for the Orange Schools over the years along with the due diligence by the school district staff in its financial management efforts and in preparing our immense official statement has led to this outstanding accomplishment,” said Mr. Todd Puster, Treasurer of the Orange Schools.

Moody's Assigns Aaa to Orange City School District
According to Moody’s overview of Orange Schools, “The Aaa rating reflects the district’s wealthy and mature residential tax base, solid financial position with consistently strong reserves, a demonstrated history of community support of new tax revenue, and a modest debt burden that mitigates challenges associated with elevated exposure to underfunded cost-sharing pension plans.”

S&P Global Ratings Summary: Orange City School District
According to Standard and Poor’s summary, “Orange City School District’s outstanding [General Obligation] bonds are eligible to be rated above the sovereign because we believe the district can maintain better credit characteristics than the [United States] in a stress scenario.”

Some of the many key factors taken into account by S&P were very strong income indicators, extremely strong market value per capita, maintenance of very strong generally accepted accounting principles balances, very strong cash balances, and low to moderate debt burden. For Moody’s, several key factors included a wealthy and mature residential tax base, a solid financial position with consistently strong reserves, a modest debt burden, and a history of community support.
Print This Article
ORANGE SCHOOLS  32000 Chagrin Blvd  Pepper Pike, OH 44124  |  PHONE: 216.831.8600  |  FAX: 216.831.8029 email
© Orange City School District. CMS created by eSchoolView