District Receives A+, ‘Stable’ Outlook On Bond Rating
The Crawford County R-1 School District has received an A+ bond rating with a stable outlook.
This rating places Bourbon in the top 15 to 20 percent of schools in Missouri.
Bourbon’s bonds went to market last week as part of the $2.3 million issue approved by voters in the June election.
Due to low interest rates, Bourbon will receive an additional $178,000, pushing the amount it will receive closer to $2.5 million.
“Investors were very excited about your bonds,” said Brent Blevins of George K. Baum Investments.
Over the 20-year span of the bonds, Bourbon will pay an interest rate close to 1.5 percent.
“This is better than we showed you a few months back, and anticipated,” Blevins said. “It was a great day in the market and a lot of that was a tribute to the district.”
The rating is done by Standard & Poor. He explained they do a deep dive of the district’s procedures, processes, budgets, assessed values and how well the finances are managed.
Due to the uncertain times, Blevins said that investors are looking for highly-rated bonds, which are secure.
“These bonds are not retail,” he said. “Institutional buyers are looking to invest capital in low-risk investments.”