The San Mateo County Community College District received the highest ratings possible from Standard and Poor’s and Moody’s Rating Services — AAA and Aaa — and is the only public higher education institution in the state to be assigned these ratings.
The district, which operates Cañada College, College of San Mateo and Skyline College, is planning to refund approximately $120 million in general obligation bonds over the next several weeks. Based upon current rates, which could change before the refinancing, taxpayers would save approximately $17.4 million due to lower interest rates, according to the district.
The Moody’s report cited the district’s sound financial operations, low debt burdens, healthy reserves and large and stable property tax base in its ratings analysis. Standard and Poor’s cited similar parameters in their review and added that the district’s general fund balances and new reserve policy are “very strong,” according to the district.
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Keep the discussion civilized. Absolutely NO personal attacks or insults directed toward writers, nor others who make comments.
Keep it clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
Don't threaten. Threats of harming another person will not be tolerated.
Be truthful. Don't knowingly lie about anyone or anything.
Be proactive. Use the 'Report' link on each comment to let us know of abusive posts.
PLEASE TURN OFF YOUR CAPS LOCK.
Anyone violating these rules will be issued a warning. After the warning, comment privileges can be revoked.