Cobb schools receives top rating from credit service

Moody’s has given the Cobb County School District its highest credit rating, district officials said Friday.

According to a release by the district, the AAA rating from Moody’s is the highest a government entity can receive. It also is the first time the district has received the top rating. District officials credit the rating to the district’s diverse and large tax base, sound reserve position characterized by conservative budgeting and no long-term debt.

“Financial Services has been working on this project for two years, and this achievement reflects the hard work, professionalism, and ‘never give up’ attitude of the entire financial services management team,” said Brad Johnson, chief financial officer for the Cobb County School District.

Just 71 of 13,588 school districts, about .5 percent, hold the AAA credit rating from Moody’s.

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