The ‘AA’ Issuer Default Rating (IDR) reflects the Palm Beach County School Board’s (or the school district) solid revenue growth prospects and expenditure flexibility, low long-term liability burden, sound reserves and significant budgetary flexibility, which provide for very strong gap closing ability throughout economic cycles. The ‘AA-‘ rating on the COPs is one notch below the IDR, reflecting the slightly higher degree of optionality associated with lease payments subject to appropriation.
Wed 22 Nov, 2023