Standard & Poor’s Ratings Services Affirms LBUSD 'AAA' Long-Term Rating

Submitted by the Laguna Beach Unified School District:

Standard & Poor’s Ratings Services affirms a rating of “AAA” for Laguna Beach Unified School District, California, General Obligation Bonds, Various Series.

The rating reflects Standard & Poor’s view of LBUSD which include:

• Very strong income and extremely strong wealth indicators
• Very strong financial position supported by the District’s “basic-aid” status
• Good financial management practices

Assistant Superintendent of Business Services Dean West remarks, “The Board of Education was prudent to authorize the refinancing of bond debt during the low interest environment over the last few years. The ‘AAA’ rating reaffirms the quality of the bonds. High quality bonds provide tax payer savings through lower interest costs. Standard & Poor’s was very clear about their rationale for the ‘AAA’ rating. I am pleased to see the recognition of the Laguna Beach Unified School District’s good financial management practices, as well as the note on the financial strength of the community and school district.”