Moody’s Upgrades Radnor School District’s Rating To AAA

RADNOR, PA —Radnor School District has attained an AAA rating, the highest bond rating issued by Moody’s Investors Service, New York, N.Y.

The upgraded rating from Aa1 represents the district’s ability to repay debt - which is currently at $98.9 million - and the future outlook remains stable, according to Moody’s report.

The upgrade in ratings has attracted interest in the district bonds, resulting in a one-time savings of $313,000, according to Brian Pawling, the business administrator.

The district serves an estimated 3,600 students in three elementary schools, one middle school, and one high school.

“This upgrade is a major accomplishment for the Radnor Township School District and will benefit us in long-term borrowing opportunities for future projects,” said Brian Pawling, business administrator.

“This rating is a testament to the fiscal balance of the board of directors and administrators in maintaining excellent reserves while being responsible to the taxpayers in the community.”

In the long term, the rating upgrade will help by attracting more buyers of our bonds, which may help drive down the repayment rate.

“This will be especially helpful as we are looking at options for the upcoming Ithan Elementary School project that may require issuing new debt to finance,” Pawling said.

The school district plans to build a new elementary school along the site of the Ithan Elementary School. A steering committee has been formed to discuss the plans for the new school.

A report on the current condition of the school shows problems with the roof and ceiling.