{"id":4987,"date":"2022-07-08T14:58:23","date_gmt":"2022-07-08T21:58:23","guid":{"rendered":"https:\/\/www.palomar.edu\/news\/?p=4987"},"modified":"2022-07-08T15:15:30","modified_gmt":"2022-07-08T22:15:30","slug":"moodys-affirms-palomar-college-bond-rating-and-upgrades-outlook","status":"publish","type":"post","link":"https:\/\/www.palomar.edu\/news\/moodys-affirms-palomar-college-bond-rating-and-upgrades-outlook\/","title":{"rendered":"Moody\u2019s Affirms Palomar College Bond Rating and Upgrades Outlook"},"content":{"rendered":"<p><span style=\"font-weight: 400\">SAN MARCOS (July 8, 2022) \u2014 Following a review of financial health at Palomar College, Moody\u2019s Investors Service affirmed the college\u2019s Aa2 bond rating and revised its outlook from negative to stable.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Moody\u2019s published its findings on Wednesday, July 6, 2022. Its report included the following observations:<\/span><\/p>\n<p><i><span style=\"font-weight: 400\">\u201cThe Aa2 rating reflects the district&#8217;s extremely large and diverse tax base that is well positioned for continued growth, in addition to favorable resident income and wealth levels. The rating also reflects the district&#8217;s solid financial position and management&#8217;s commitment to improved fiscal policies and procedures, which support sound operations going forward.\u201d<\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400\">\u201cThe stable outlook reflects our expectation that financial reserves (at Palomar College) will remain healthy and long term liabilities will remain manageable, supported by improved fiscal policies and procedures and a favorable current state funding environment.\u201d<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400\">Dr. Star Rivera-Lacey, Superintendent\/President of the Palomar Community College District (PCCD), called the positive Moody\u2019s findings a sign that Palomar remains fiscally strong and is positioned for growth.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cThis is one of many signs that Palomar College has held strong through the two-year COVID-19 crisis. We will continue to focus on strengthening our financial health,\u201d said Dr. Rivera-Lacey. \u201cWe are deeply grateful to taxpayers for their confidence in the District as we work to ensure student success.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">The US Local Government General Obligation Debt published in January 2021 was the principal methodology used in evaluating the rating. The methodology is available at <\/span><a href=\"https:\/\/ratings.moodys.com\/api\/rmc-documents\/70015\"><span style=\"font-weight: 400\">https:\/\/ratings.moodys.com\/api\/rmc-documents\/70015<\/span><\/a><span style=\"font-weight: 400\">, or <\/span><a href=\"https:\/\/ratings.moodys.com\/\"><span style=\"font-weight: 400\">https:\/\/ratings.moodys.com<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<p><b>About Palomar College:<\/b><span style=\"font-weight: 400\"> Palomar College is a public two-year community college. Palomar College has four campus locations in San Diego County (Rancho Bernardo, Escondido, Fallbrook, and the main campus in San Marcos). Palomar enrolls approximately 20,000 full-time and part-time students. Residents of California are charged only $46 per unit. At Palomar, students may choose from more than 200 associate degrees and certificate programs while completing the first two years of a bachelor\u2019s degree, training for a career, or enjoying personal enrichment classes for lifelong learning.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SAN MARCOS (July 8, 2022) \u2014 Following a review of financial health at Palomar College, Moody\u2019s Investors Service affirmed the college\u2019s Aa2 bond rating and revised its outlook from negative to stable.\u00a0&hellip;<\/p>\n","protected":false},"author":10413,"featured_media":4989,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_members_access_role":[],"_members_access_error":""},"categories":[19,23,14,18],"tags":[],"class_list":["post-4987","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-carousel","category-home","category-news","category-slider"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Moody\u2019s Affirms Palomar College Bond Rating and Upgrades Outlook - Palomar News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.palomar.edu\/news\/moodys-affirms-palomar-college-bond-rating-and-upgrades-outlook\/\" 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