Westlake Schools' credit ratings reaffirmed

Moody’s Investors Service reaffirmed the Westlake City School District’s Aa1 bond rating based on the districts strengths, including continuous economic growth, consistent management and stable finances, and contingency planning for potential budgetary challenges.

The credit rating agency indicated the school district’s “strong fiscal oversight” and “conservative budgeting practices” have contributed to a healthy General Fund reserve. The rating places Westlake in the top 4% of all Ohio schools.

Similarly, Standard & Poor’s Ratings Services assigned its AA+/stable long-term rating to the school district. The rating reflects Westlake’s large, local economic base, strong income levels and strong market value, stable enrollment levels, strong general fund reserves supported by strong voter support, and a moderate overall net debt burden.

S&P indicated the school district’s financial management practices are “good” and that the ratings service expects district officials “will continue to successfully manage the district’s levy cycle in an effort to maintain stable financial operations and strong general fund reserves.”