LW District 210 Notches Another Improvement In Its Bond Rating

NEW LENOX, IL — Lincoln-Way District 210 continues to see improvement in its finances, officials said last week.

Moody’s has upgraded the district's rating from A2 to A1, "providing continued evidence that the district has stabilized its finances," the district said in a release.

"The report issued by Moody’s notes that this upgrade reflects maintenance of a solid financial position and leveling of annual debt service costs, which is due to the Board of Education’s efforts to restructure more than $130 million of bonds in 2022," the release reads. "This effort by the Board locked in a fixed interest rate of 1.76%, reducing the district’s outstanding debt by approximately $22 million."

In 2016, the district was downgraded to its lowest Moody’s rating of Ba1, meaning that Lincoln-Way was considered a substantial credit risk and not an investment grade institution. Three years later in 2019, Moody’s upgraded its rating to Baa3, noting a moderate credit risk. The most recent upgrade to A1 is further proof that the district has stabilized its finances and is now considered a low-risk institution. The district also expects to receive its third “Financial Recognition” status from the Illinois State Board of Education, which is the highest category awarded.

"The remarkable recovery of the district’s financial health in just a few short years is evidenced by yet another upgrade from Moody’s," said Dr. Scott Tingley, superintendent. "The Board of Education and administration are committed to maintaining a sustainable plan that will continue to build on the positive momentum created by the previous Board."

To learn more about Lincoln-Way's road to financial recovery, visit the website.