Nashoba Tech Maintains High Bond Rating, Announces Savings on Refunded Bonds

The press release below and included photo were submitted to Patch.

The Nashoba Valley Technical High School District received two pieces of good fiscal news recently.

Not only has the district maintained the second-highest bond rating from Moody’s Investors Service, an Aa1 rating, but it also learned that a competitive bidding process on a 10-year refunding bond issue will generate a savings of $410,525 for the district over the remaining life of the refunded bonds.

The bottom line is that Nashoba Tech is seen as being a fiscally well-run school district. Jeanne Savoie, Nashoba Tech’s business manager, said the high bond rating puts the district “in a more favorable position if we need to
borrow money.”
Moody’s listed as Nashoba Tech’s strengths its strong financial performance, resulting in an above-average General Fund reserve position, and the district’s low debt burden. The rating puts Nashoba Tech in the Prime-1 category for short-term ratings, meaning its has the “best ability to repay short-term debt.”

Superintendent Dr. Judith L. Klimkiewicz said the savings to the district over the next decade are “significant.”

“In addition to being proud that we are a fiscally responsible district, we are pleased that we will be able to save the district close to a half a million dollars over the next 10 years,” Klimkiewicz said.

Nashoba Tech was first assigned the bond rating of Aa1 last year, and it was affirmed this past August.

According to Klimkiewicz, Nashoba Tech’s bond rating is higher than the rating of any of the school departments in its eight-town district— Ayer, Chelmsford, Groton, Littleton, Pepperell, Shirley, Townsend and Westford.

She also said it’s the second-highest bond rating for any school district in Massachusetts except for the Concord-Carlisle Regional School District.