LPS Maintains AA Bond Rating
Standard & Poor's has maintained the Liberty Public Schools credit rating for general obligation (GO) debt at 'AA' based on strong financial indicators, including participation in the diverse Kansas City, Missouri metropolitan area economy, steady growth in student enrollment, and strong general fund reserves, as measured on a cash basis of accounting. This rating puts Liberty Public Schools in the top 15 school districts in the state of Missouri.
This rating is significant in terms of saving the school district money by making the district eligible for lower interest rates. According to Liberty Public Schools Chief Financial and Operations Officer Carol Embree, LPS will experience substantial savings as a result of the reduced interest rates.
"The net savings on the debt refinanced this fiscal year will exceed $4.6 million over the life of the loans," Embree said. "We will continue to identify opportunities to reduce debt and expenditures."
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