Port Jefferson School District Assigned Favorable Bond Rating
Receives Moody’s Rating of Aa2
The Port Jefferson School District has received notice from Moody’s Investors Service that it has been assigned a rating of Aa2. The rating has been assigned to the district’s $3.8 million in School District Refunding Serial Bonds for 2016. It also affirms the district’s $4.9 million of outstanding general obligation parity debt.
According to Moody’s, the Aa2 rating “reflects the district’s moderately-sized wealthy tax base with significant taxpayer concentration, well-managed financial position with ample reserves and liquidity, and low debt profile.”
“The Board of Education and administration have been diligent in their joint efforts to be fiscally responsible,” said Superintendent of Schools Dr. Kenneth Bossert. “We take great pride in our financial stability and will continue to work to ensure that Port Jefferson remains a fiscally sound district.”
Dr. Bossert noted: “The five year period of budgetary stability and fiscal surpluses cited within the report coincide with the stewardship of the Assistant Superintendent for Business, Sean Leister. Mr. Leister and his staff deserve a great deal of credit for this excellent rating.”