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Gwinnett County School System Earns "AAA" Rating

Gwinnett County Public Schools recently made history by becoming the first school system in Georgia ever to earn the "AAA" rating on its school bonds from Moody's Investors Service. Because of the rating, the school system's bonds are attractive to investors, and the school system is able to borrow money at the lowest possible interest rates.

A recent article in the Gwinnett County Public Schools Communiqué, a quarterly newsletter for Gwinnett parents and the community, says that the rating "enhanced its reputation and saved taxpayers money in one fell swoop." According to the article, the good news came as the Gwinnett County Board of Education voted to refinance some existing bonds issued in 1994 and 1995.

"The refinancing will result in savings of approximately $8.2 million for the taxpayers of Gwinnett County," the article says. Only 13 other school systems in the country have earned the AAA rating, and none of these are nearly as large, as economically diverse, or as rapidly growing as Gwinnett County Public Schools, according to A.G. Edwards, the Board's financial consultant.