MOODY'S ASSIGNS UNDERLYING Aa2 RATING FOR ST. VRAIN S.D. NO. RE-1J, CO'S G.O. BONDS, SERIES 2010A AND 2010B

Posted on: May 10, 2010, 6:10 pm

NEW YORK, May 10, 2010 -- Moody's Investors Service has assigned an underlying Aa2 rating to Boulder, Larimer, and Weld Counties, and City and County of Broomfield School District No. RE-1J (St. Vrain Valley), Colorado's $85.0 million General Obligation Bonds, Series 2010A and 2010B. At this time, Moody's has also affirmed the Aa2 rating on the district's outstanding general obligation debt totaling $380.3 million. The current offering is secured by the district's full faith, credit, and unlimited property tax pledge. Bond proceeds from the current offering will finance maintenance-related renovations and technology improvements to existing facilities, as well as the construction of a new elementary school. The Aa2 rating assignment primarily considers the district's sizeable tax base, whose growth remains positive, but is expected to decline in the near-term. The rating also reflects the district's satisfactory general fund reserves and operating flexibility, above average wealth indices and high debt position...

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