Hinsdale Community Consolidated School District 181 issued the following announcement on June 4.
Moody's Investors Service has assigned a Aaa (triple A) rating to Community Consolidated School District 181's approximately $9 million General Obligation School Building Bonds, Series 2018A and $4.2 million Taxable General Obligation Refunding School Bonds, Series 2018B.
Concurrently, Moody's has affirmed the Aaa ratings on the District's outstanding General Obligation Unlimited Tax (GOULT) debt.
The Aaa rating is the highest possible rating given to taxing bodies.
The D181 Board of Education approved the second and final installment of the School Building Bonds at its meeting May 21. The bonds are used to fund the construction of a new Hinsdale Middle School.
Analysts note, "The Aaa GOULT rating reflects the district's large, suburban tax base with very strong resident income levels, a healthy financial position, moderate debt burden and exposure to a potential pension cost shift from the State of Illinois (Baa3 negative).
We expect the district's wealthy residential base and ample reserves will continue to support a strong credit profile, despite challenges that may arise from cost shifting of pension liabilities from the State of Illinois.
District 181 Chief Financial Officer, Mohsin Dada said that the District maintains a section of its website specifically to share financial information with the community.
"We believe it is critical to be transparent in our operations," Dada notes. "We encourage interested community members to visit our Financial Reports webpage and to contact the Business Office with any questions."
Here are FAQs on HMS construction and information on D181 Financial Reports.
Original source can be found here.
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