The financial health of Burnsville-Eagan-Savage School District 191 was affirmed by the Aa2 rating it received recently from Moody’s Investor Services.
A bond rating is similar to credit scores for individuals. Better ratings result in more favorable borrowing rates. Bonds are being sold now for $16.9 million for deferred maintenance over the next two years at Burnsville High School and several other schools as outlined in the district’s facilities plan approved by the Minnesota Department of Education.
“We expect the district’s financial position to remain satisfactory over the near term, supported by sound reserves and conservative budgeting,” stated Moody’s report.
The purpose of Moody’s ratings is to provide investors with a system to determine relative creditworthiness of securities being sold.