San Joaquin Delta College has received another strong vote of confidence from the financial community, earning an Aa2 credit rating with a “Positive” outlook from Moody’s Ratings as the college prepares to move forward with major Measure K construction projects.
The rating is welcome news for local taxpayers because it can help Delta College borrow money at lower interest rates, allowing more voter-approved bond dollars to go directly toward campus improvements, facilities, technology upgrades, and long-term infrastructure needs.
Moody’s Aa2 rating applies to approximately $130 million in upcoming Measure K bond issuances, as well as the refinancing of $38 million in existing debt from the previous Measure L bond. According to the college, the refinancing alone is expected to save taxpayers approximately $3.6 million…