The Long Beach Unified School District’s credit rating was upgraded due to its improved budget flexibility, build-up of reserves, and lower revenue volatility, according to the latest bond ratings.
Fitch Ratings, the global credit rating and research service, recently assigned a high AA- rating to the school district. To investors, this rating signifies high quality and low risk. The assessment highlights LBUSD for having the highest gap-closing capacity supported by prudent reserves and improved expenditure flexibility.
A high credit rating helps to save taxpayers millions of dollars in interest on bonds approved by local voters to build, repair and upgrade school campuses. Independent auditors also have consistently given LBUSD’s finances, including its school bond finances, the highest possible ratings.