Moody’s Investors Service recently upgraded the Chesterfield County School District’s credit rating, a move that will lead to a savings for the district in repaying revenue bonds.
Chesterfield County Schools’ Superintendent Dr. John Williams said that the improvement in the credit rating shows that district is a good steward of tax dollars.
“That’s important, especially in these difficult economic times when every penny saved helps the classroom,” says Williams.
Moody’s stated that the upgrade reflects the school district’s improved financial position that is expected to remain stable, and solid management reflected in conservative budgeting practices and satisfactory reserve levels.
“We are quite pleased with this news,” adds Williams. “The school board and the district administration are to be commended for their wise financial decisions that have led to this upgrade.”