Wednesday, September 10, 2014
Office of College Advancement
Ohlone College’s High Credit Ratings Result in Taxpayer Savings - Press Release, Office of College Advancement
Fremont, CA—In August Ohlone Community College District successfully sold its second installment of Measure G bonds – $75M in Series B Bonds. The District received some of the highest ratings given to any public agency in the state of California from Moody’s Investors Service and Standard & Poor’s Rating Agency. The District was rated a Double A2 and Double A for the second issuance of Measure G bonds.
Because of the District's exceptional credit ratings and extremely favorable market conditions, the District received strong interest in our bonds from banks, money managers, and retail investors. As a result, the District achieved an excellent borrowing rate and an extremely low debt service repayment ratio of 1.94:1, well below the statutory maximum of 4:1. Ohlone College’s consistently prudent management policies and resulting strong credit ratings provide the benefit of highly competitive interest rates on bond financings, representing an excellent deal for District taxpayers.