Greenburgh Schools Earn an Aa2 Rating from Moody's
The Greenburgh Central School District has received an Aa2 rating from Moody’s Investors Service, which the service noted is higher the national average among U.S. school districts, at Aa3.
“Notable credit factors include a very strong wealth and income profile, a sizable tax base and a healthy financial position,” said the report from Moody’s. “The rating also reflects an extremely small debt burden and a moderate pension liability.” Aa2 ratings by Moody’s “are judged to be of high quality and are subject to very low credit risk.”
“We are thrilled to receive this excellent rating from Moody’s,” said Superintendent of Schools Dr. Tahira A. Dupree Chase. “Many people in our District are responsible for the high marks we have earned, but especially Mary O’Neill, our Assistant Superintendent for Business, the Business Office, our administration, our fiscally prudent Board of Education, and our supportive parent population.”
Moody’s described the District as having “an exceptionally strong economy and tax base,” noting that the median family income “equates to a robust 187.5% of the U.S. level. Additionally, Greenburgh CSD’s full value per capita ($175,278) is materially above the U.S. median and grew between 2014 and 2018.”
Moody’s also cited the District for having a favorable and “exceptionally light” debt burden, which has remained flat over the past four years. The District also has a net pension liability-to-operating revenue ratio of 1.4, which is roughly equivalent to the U.S. median for school districts.