West Babylon School's Moody's rating increases
The West Babylon Union Free School District was recently upgraded from an A2 rating to an A1 rating by Moody's Investors Service. The upgrade reflects the district's improved financial position despite expenditure pressures, as well as significant growth in full valuation. The A1 rating is reflective of the district's low debt burden and will enable them to borrow for any future capital projects at a lower interest rate.
The Moody's report also indicated that they believe the district will continue to maintain an improved financial position given suitable reserves, steady property tax increases and favorable operating results projected in 2007. Furthermore Moody's expects that West Babylon School District's $3.4 billion tax base will continue to benefit from its favorable location with access to employment opportunities throughout Long Island and the New York City metropolitan area. The A1 rating is a great honor for the West Babylon School District to hold.
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