eoody's Investors Service last week provided its first new rating in three years to a Wyoming school district, assigning an assessment of A to an $8.3 million general obligation bond issue by Park County School District Number 6.
Wyoming school districts have not experienced "a lot of capital pressure for expansion" in recent years, partly because the state's economy suffered in the mid-1980s, explained Ditmar Kopf, a senior analyst of Moody's. As a result, many districts lost population and experienced enrollment declines, he said.
But some districts have aging facilities that require renovation or replacement, Mr. Kopf said, adding this could drive more to the capital markets.
Moody's in the past rated debt from the Park County district, but bonds from previous issues have matured, Mr. Kopf said.
The district, located at the southeastern entrance of Yellowstone National Park, benefits from a stable economy based on oil and gas, agriculture, government, and tourism, Moody's said.
Other key rating factors include the district's history of well-maintained financial operations and the state's strong support of school district finances.