Parkland's AA Bond Rating Is Reaffirmed

Parkland School District recently received word from Standard & Poor’s that its AA bond rating has been reaffirmed.

John Vignone, director of business administration for Parkland, said Friday a bond rating for a school district could be compared to a credit rating for an individual.

The AA bond rating is a good reflection of how well the district is managing its finances, Vignone said. He said it's good news for a variety of reasons. If the district needs to borrow money, he said for example, it would be able to do so at a better rate. Also, he said, the AA bond rating will entice more people to purchase Parkland bonds as a way to diversify their holdings.

Vignone said Public Financial Management, the district’s independent financial adviser in Harrisburg, told him two years ago that Parkland was one of only about 25 school districts in the state with a AA bond rating at that time.

Vignone did not know how many other districts currently have AA bond ratings. However, he said, according to Public Financial Management, only 15 school districts in the state have a AAA bond rating.

There are 500 public school districts in Pennsylvania.