District is now one of top four highest ranked in state
Standard & Poor’s (S&P) global credit ratings agency has increased its financial rating for Noblesville Schools for the second time in two years, boosting its previous AA- rating to AA.
The ratings increase establishes Noblesville Schools as one of the top four school districts in the state for financial management, with the same rating as Carmel Clay Schools, Zionsville Community Schools and Hamilton Southeastern Schools.
S&P noted that the increased rating reflected Noblesville Schools’ track record of delivering consistently strong financial operations, while simultaneously lowering the tax rate annually for the past six years.
Hortemiller
“We take our responsibility to manage the community’s tax dollars seriously and are always looking for ways to lower costs, create efficiencies, and increase our cash reserves while best serving students,” Noblesville Schools Chief Financial Officer David Hortemiller said. “The most important outcome of this ratings increase is that it means lower borrowing costs for our residents.”
In addition to the overall AA financial rating, the district was further recognized as AA+ for its long-term debt management.
S&P is a global credit ratings agency that publishes financial research and analysis on stocks, bonds, and commodities.