Moody's Investors Service has once again bestowed a prestigious Aaa general obligation limited tax (GOLT) rating upon the West Chester Area School District (WCASD), in recognition of its proposed $11.8 million General Obligation Bonds, Series of 2024. This esteemed rating is underpinned by Moody's maintenance of the district's Aaa issuer, general obligation unlimited tax (GOULT), and GOLT ratings. The lack of differentiation between the district's issuer rating and the Aaa rating for its GOULT and GOLT debt is anchored in the district's steadfast general obligation full faith and credit pledge.
 
The Aaa issuer rating signifies the district's exceptional financial resilience, bolstered by a robust reserve position, notably inclusive of fungible reserves housed in its Capital Reserve Fund. WCASD’s longstanding commitment to conservative budgeting, a proactive stance on property tax levy adjustments, and a thriving economic foundation contribute significantly to its strong financial standing. The rating is further influenced by the district's modest enrollment growth and a manageable leverage trajectory anticipated over the next three years.

“Securing the Aaa bond rating reaffirms our commitment to financial prudence in the West Chester Area School District. This distinguished rating reflects our dedicated efforts to manage resources sensibly and plan responsibly, ensuring that our community's hard-earned dollars are utilized wisely,” said Dr. David Christopher, WCASD Superintendent of Schools. “The Aaa rating isn't just a badge of honor; it directly translates to tangible benefits for our taxpayers such as securing low-interest bonds for critical school renovation projects, ultimately resulting in substantial savings for our community,” he added.
 
The stable outlook reflects Moody's confidence that the district's financial position will remain exceptionally robust, even with planned additional borrowing. This confidence is grounded in the district's strong revenue-generating base and a history of prudent financial management.
 
“As one of the select few school districts in Pennsylvania to achieve this rating, it underscores both the WCASD School Board's and Department of Business and Finance’s unwavering dedication to fiscal responsibility,” said John Scully, WCASD Director of Business Affairs.
"It's a testament to the work our team does each day, ensuring that every dollar dedicated to our schools is a wise investment in the education and future of our students."
 
The forthcoming issuance of the General Obligation Bonds, Series of 2024, will be utilized for refunding the GOB Series 2014 at a more favorable interest rate.