Phoenixville Schools Get New Bond Rating From Moody's

The Phoenixville Area School District’s $7.7 million General Obligation Bonds have received an Aa2 underlying and A2 enhanced rating, the Moody’s Investors Service announced Tuesday.

The Aa2 rating “reflects the district’s healthy available reserve levels, track record of strong financial performance, sizeable tax base located in the Philadelphia (A2 stable) metropolitan area, solid wealth levels, above-average debt burden, and below-average pension burden,” Moody’s said in a press release.

Moody’s added that the bond rating could go up in the event of “Significant tax base growth,” or down due to “Protracted structural budget imbalance, depletion of General Fund balance and other available reserves, Significant increases in the district’s tax burden beyond current projections or deterioration of the district’s tax base.”