The West Hempstead School District received notice from credit rating agency Moody’s Investors Service that it has maintained its credit rating of Aa3.
According to Moody’s, the Aa3 rating reflects the district’s “healthy reserves supported by stable operations and conservative budgeting.” West Hempstead also boasts credit strengths such as strong reserves and liquidity and low fixed costs.
“Strong reserves allow the district to maintain a healthy credit rating,” said Joel Press, the district’s assistant superintendent for business and operations. “As a result, the district will continue to pay lower interest rates for current and future borrowing for projects such as the bond work that is in the process of being completed.”
West Hempstead’s financial profile is healthy and is anticipated to remain so for the rating category in the near term, according to Moody’s.
Courtesy West Hempstead School District; compiled by Nakeem Grant