After reviewing the district’s finances, Standard and Poor's has given the a AAA bond rating, the highest rating for school districts, according to a press release.
The rating allows Parkway to receive lower interest rates in bonds. According to the release, however, Standard and Poor had a word of caution for Parkway.
“Continued draws on the general fund balance that would cause a weakened financial position could present a downward rating pressure,” stated the release.
S&P’s rating takes into account several criteria, including:
- Participation in the St. Louis regional economy;
- Very strong income and extremely strong market value per capita levels;
- Strong financial position, supported with strong reserves and levy flexibility;
- Low debt levels.
“Their outlook for Parkway’s financial future is generally stable,” stated the release.