Cabell County Schools has been assigned an “A+” underlying rating from Standard & Poor’s Global Ratings, New York, New York (S&P) based on the general creditworthiness of the Cabell County school district.
The district is the first in West Virginia in the modern era to receive an underlying rating. By seeking its own underlying rating from S&P, the district was able to enhance the program rating the district is assigned based on participation in the West Virginia Municipal Bond Commission program (“AA-“ based on the State of West Virginia’s long-term S&P rating).
“We are particularly proud of the S&P underlying rating,” says Cabell County Schools Superintendent Ryan Saxe. “We believe this rating has made the sale of our school bonds more attractive to a wider field of potential investors. Our school district has received consistent support from our community and Cabell County taxpayers. The Board of Education and district and school leaders have worked tirelessly to ensure that the district’s finances are managed transparently and responsibly.”
In its rating report, Standard & Poor’s highlighted the school district’s good financial management and strong reserve balances, as well as Cabell County’s diverse tax base. See the attached S&P Global Ratings report for details.