Standard and Poor's Upgrades CCC Bond Rating

Thursday, October 15, 2009

Independent rating agency Standard and Poor's upgraded Clackamas Community College's bond rating from AA- to AA last week. The upgrade will save the college thousands of dollars in a pending refinance of outstanding bond debt.

The agency reviewed CCC's financial documentation and made the ratings change based on the college's proactive financial management, history of maintaining fund balances and reserves, and regular tuition increases. The agency also considered the local economy and the area’s increasing tax base.

The new rating combined with lower interest rates will save the college more than $200,000 in debt service charges on outstanding bonds. If the college maintains the AA rating, it will positively affect interest rates in future bond measures.

For more information, please contact Courtney Wilton, vice president of College Services, at 503-657-6958, ext. 2222.