Moody's Assigns MIG 1 Rating to Ardsley Union Free School District's Bond Anticipation Notes - 2025

Strategic Insights -

Moody's Investors Service has issued a MIG 1 rating to Ardsley Union Free School District's approximately $11.1 million Bond Anticipation Notes - 2025. This rating reflects the long-term credit quality of the anticipated take-out financing supported by the New York State Section 99-b Intercept Program, which is currently rated Aa3. The district's strong coverage of debt service from state aid revenues, projected to be 2.7 times based on the fiscal 2025 adopted budget, is a key factor in the rating.

Key Takeaways:

  • The MIG 1 rating assigned to Ardsley Union Free School District's Bond Anticipation Notes - 2025 reflects the district's strong credit quality and ability to take out the financing through the New York State Section 99-b Intercept Program.
  • The district's projected debt service coverage ratio of 2.7 times is based on the fiscal 2025 adopted budget, which indicates a strong financial position.
  • Ardsley Union Free School District is located in Westchester County, New York, and provides K-12 programming to approximately 2,349 students across three school buildings.
  • The district's rating is closely tied to the rating of the New York State Section 99-b Intercept Program, which is currently rated Aa3.
  • Moody's uses a principal methodology in rating short-term debt, which includes evaluating the credit quality of the underlying issuer and the specific financing structure.

Statistics:

  • $11.1 million: The approximate amount of Bond Anticipation Notes - 2025 issued by Ardsley Union Free School District.
  • 2.7: The projected debt service coverage ratio based on the fiscal 2025 adopted budget.
  • 2025: The fiscal year referenced in Ardsley Union Free School District's adopted budget, which serves as a basis for the district's projected debt service coverage ratio.

Sources:

  • Moody's Ratings, Moody's Investors Service, "Moody's Assigns MIG 1 Rating to Ardsley Union Free School District, NY's Approximately $11.1 Million Bond Anticipation Notes - 2025," (no date provided).
  • Moody's Investors Service, "US Municipal Short-term Debt," published in October 2024, available at [https://ratings.moodys.com](https://ratings.moodys.com).
  • Moody's Investors Service, Rating Methodologies page, available at [https://ratings.moodys.com](https://ratings.moodys.com).