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North Babylon school district’s credit rating affirmed

Moody’s Investors Service affirmed North Babylon School District’s

Moody’s Investors Service affirmed North Babylon School District’s credit rating, citing the district’s strong finances. North Babylon High School is seen here on March 13, 2014. Credit: David Reich-Hale

Moody’s Investors Service affirmed North Babylon School District’s credit rating, citing the district’s strong finances.

The agency announced last week it was assigning an Aa3 rating to $16 million in refunding serial bonds expected to be issued Tuesday.

It also affirmed the same rating for $33.6 million of the district’s previously issued debt.

Moody’s said the moves reflected the district’s “large tax base, and manageable debt burden which is reduced by substantial state building aid.”

It cited the district’s low debt and pension burden, but warned that recent tax base declines could lower future ratings if they continue.

 

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