In 2016, Vestavia Hills City Schools began exploring the possibility of issuing warrants to fund construction projects across the district. As a first time issuer without a bond rating, the Vestavia Hills Board of Education had to be rated by Moody’s Investors Service (Moody’s) and S&P Global Ratings (S&P). The board received an “Aa1” rating on its warrants from Moody’s and an “AA” rating from Standard & Poor’s. These ratings are extremely high. As of the summer of 2016, only one other school system held a Moody’s rating of Aa1. In the past ten years, S&P has not rated a board of education in the state higher than AA. Moody’s also issued a rating on the board itself of “Aaa.” This is the highest rating available with Moody’s.
The ratings reports from Moody’s and S&P are available for download below.