Spartanburg School District One has received a double upgrade in its credit ratings, according to recent statements from Moody’s Investors Service. The district’s issuer rating has been elevated to A1 from A3, while the rating on the district's Installment Purchase Revenue Bonds (IPRBs) has improved to A2 from Baa1. This upgrade reflects the district’s strong financial performance and responsible fiscal management.
Key factors influencing the upgrade include Spartanburg One’s solid reserve position, increasing student enrollment, and a decreasing leverage profile. The district’s available fund balance ratio has improved significantly. This financial improvement is attributed to enhanced governance and increased state and local revenues.
Moody’s highlighted the district’s growing enrollment and solid property tax base as key factors in the upgraded ratings. Looking ahead, Spartanburg One is committed to leveraging this positive momentum by preserving its strong financial health and advancing its mission of student-centered education.