Moody’s Investors Service has assigned an Aa3 bond rating to the Elwood Union Free School District, deeming the district’s credit position to be “very healthy.” An Aa3 rating is the second highest rating that can be assigned to a public organization and is based on a very strong wealth and income profile, a solid tax base and a healthy financial position.

A bond rating is essentially a grade given to bonds that indicates their credit quality. Private independent rating services such as Moody’s and Standard & Poor's provide these evaluations of a bond issuer's financial strength, or its ability to pay a bond's principal and interest in a timely fashion.

Regarding the district’s finances, the Moody’s report indicates the district maintains a strong financial position and that the district’s debt burden is “exceptionally light and quite favorable.”

“Our district has sound fiscal controls in place and continues to act responsibly with the taxpayer dollars provided,” said Superintendent of Schools Dr. Kenneth Bossert. “The Board and administration are working together to ensure long-term financial stability while continuing to provide a quality education for our students.”