New York, April 20, 2016 — Issue: General Obligation Refunding Bonds Series 2016; Rating: Aa2; Rating Type: Underlying LT; Sale Amount: $29,255,000; Expected Sale Date: 04/30/2016; Rating Description: General Obligation;
Summary Rating Rationale
Moody’s Investors Service has assigned a Aa2 rating to Pinal County Community College District’s General Obligation Refunding Bonds Series 2016. At this time, we also affirm the Aa2 on the district’s parity debt. The Aa2 rating incorporates the district’s sizeable tax base which has returned to growth in recent years, consistently solid financial performance as reflected in strong liquidity, and modest debt burden.
Rating Outlook
The stable outlook reflects our expectation that taxable values will continue to grow supported by the continued economic recovery in the region, financial operations will remain solid and the district’s debt profile will remain manageable despite future borrowing plans.
