Credit Rating

The Portola Valley School District was recently assigned the ‘AA+’ credit rating from Standard & Poor’s Global Ratings. This rating is the second highest possible rating from Standard & Poor’s. The District has maintained this rating since 2019, when the District was upgraded by two levels, from ‘AA-’ to ‘AA+’.

“We are very pleased to have maintained our strong credit rating and report this news to our community,” said Superintendent Roberta Zarea. “We have worked hard to maintain our credit rating for the benefit of local taxpayers,” said Chief Business Official Connie Ngo.

“A higher credit rating results in lower borrowing costs for taxpayers when bonds are sold,” said Chris Hiatt of Keygent, the District's financial advisor. “The affirmation of the ‘AA+’ credit rating is a great result for local taxpayers.”

Standard & Poor’s generally reviews four factors in assessing an issuer’s creditworthiness: (1) District finances, (2) District management, (3) District debt/pension obligations, and (4) local economy.

Standard & Poor’s noted the following as credit strengths of the District:

• Growing property tax base with very high resident wealth levels

• Strong financial results with sustained foundation donations

• Good financial management practices with formal policies in place

The District received a formal credit report from Standard & Poor’s, which will be disseminated to the investment community. The District’s rating was updated as part of its upcoming $39.5 million Measure Z general obligation bond issuance to fund projects in the District. This will be the final issuance of bonds from Measure Z.