May 29th, 2019 - Moody’s Investor Services has upgraded Huber Heights City Schools’ (HHCS) debt credit rating from A1 to Aa3. This rating moves the district up a tier to having a “very strong capacity to meet its financial commitments,” says Moody’s.
The debt credit rating upgrade means that HHCS is in good financial health, despite not needing to take on any additional debts. In reaching its decision, Moody’s looked at several aspects of the district’s operations including its financial position, cash reserves, expenditure history and management’s history of matching resources with spending.
Moody’s says HHCS’ management “aggressively took action on reducing expenditures and producing savings which, coupled with the increased state aid, has led to recent surpluses. Huber Heights will maintain a healthy financial profile supported by conservative budgeting and favorable state aid trends.”
HHCS treasurer Gina Helmick is grateful for the recognition from the financial regulator. “This is fantastic news and a reflection of a lot of hard work by the former and current board and administration,” says Helmick.
Click here to read the full press release from Moody’s Investor Services.