S&P Global Ratings has raised the credit rating on Morgan Hill Unified School District (MHUSD) from AA- to AA, and comments that the outlook is “stable,” which reflects the district’s growing economy. MHUSD is located in Santa Clara County in Northern California. At present time, the district has approximately 8500 students and is comprised of 14 schools. The district is the largest employer of the city of Morgan Hill at roughly 800 employees.
S&P Global Ratings is a division of S&P Global, an American financial services company that publishes financial research and analysis on stocks, bonds and commodities. It is one of the top 3 credit rating agencies, along with Moody Investors Service who recently rated MHUSD AA1.
MHUSD’s AA credit rating is due to general credit strengths such as good financial management policies under S&P’s assessment methodology, strong general fund balance, participation in the diverse Silicon Valley economy, strong wealth and household income levels.
Victoria Knutson, Director of Fiscal Services for the district, strives to keep MHUSD financially sound. “We are proud of our improved rating with S&P. The stable outlook is a direct reflection on our sound financial management and our ability to maintain steady finances.”
S&P Global Ratings Report mentions that the firm does not anticipate changing the rating during their two-year outlook.