CISD Announces AAA Credit Rating from both Fitch and Standard and Poor’s Credit Agencies
Coppell ISD announced today, Sept. 14, 2020, that both the Fitch and Standard and Poor’s (S&P) credit rating agencies have given the district a AAA credit rating, the highest rating available.
Both credit agencies assigned the district a AAA/PSF rating with an underlying bond rating AA+. The outlook from both agencies for the district is stable.
CISD also is rated Aa1 by Moody’s, the third of the nation’s three credit rating agencies. This rating also indicates that the district’s finances and ability to pay its debts are strong and stable.
“These credit rating agencies noted the district’s sound financial management practices, moderate debt, and high reserve funding as key factors to achieving these high ratings,” said CISD Chief Financial Officer Diana Sircar.
According to S&P, CISD has sufficient financial flexibility, combined with good management practices, to weather any near-term pressures, including those related to COVID-19.
“While we continue to monitor events related to COVID-19, we do not expect these to affect the district's ability to pay debt service or maintain its financial position through our outlook horizon,” the S&P Ratings report stated.