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Moody's Investors Service Inc.

Moody's Assigns Aa3 Enhanced Rating to Campbellsville Independent School District's Bonds

Strategic Insights

— 1 min read

Campbellsville Independent School District in Kentucky has received a Aa3 enhanced rating for its approximately $19.05 million School Building Revenue Bonds, Series of 2025. The rating is based on the Kentucky School District Enhancement Program (Aa3 stable), which is available to all school districts in the state. The program provides a stable source of funding for school districts, enhancing the credit profile of the bonds.

Key Takeaways:

  • The Aa3 enhanced rating is based on the Kentucky School District Enhancement Program (Aa3 stable), which provides a stable source of funding for school districts.
  • The program's notification and timing provisions, as well as the state Department of Education's ("KY DOE") oversight, are key factors in maintaining the rating.
  • An upgrade of the Commonwealth of Kentucky's long-term issuer rating could lead to an upgrade of the rating, while a downgrade of the rating could result from a weakening of the program's provisions or KY DOE's oversight.
  • Campbellsville Independent School District is located in South-Central Kentucky and had an average daily attendance of 1,126 during the 2023-24 school year.
  • The district is served by the state Department of Education, which provides oversight and support to ensure the financial stability of the district.
  • The Campbellsville Independent School District Finance Corporation is a non-profit corporation created by the district to act as a municipal corporation and agency.
  • The principal methodology used in this rating was US State Aid Intercept Programs and Financings, published in February 2024.

Statistics:

  • The Aa3 enhanced rating is equivalent to a credit rating of Aa3.
  • The $19.05 million School Building Revenue Bonds, Series of 2025 are issued through the Campbellsville Independent School District Finance Corporation, KY.
  • Campbellsville Independent School District is in South-Central Kentucky, approximately 87 miles southwest of Lexington-Fayette Urban County Government, KY.
  • The district had an average daily attendance of 1,126 during the 2023-24 school year.

Sources:

  • Moody's Ratings (Moody's)
  • US State Aid Intercept Programs and Financings, published in February 2024 (https://ratings.moodys.com/rmc-documents/415020)
  • Rating Methodologies page on https://ratings.moodys.com
  • Kentucky Revised Statute 162.385

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