Coast Community College District
Maintains Strong Bond Ratings
For Immediate Release: October 14, 2020

Blue graphic, waves under text measure C and above text Measure M, with improving Coast Colleges under the C, combining to say thank you for supporting Measure C and Measure M at Coast Colleges

COSTA MESA, CA – The nation's top bond-rating agencies, Moody's and Standard & Poor's, affirmed the Coast Community College District's excellent rating for general obligation bonds. Both agencies recognized the district with the second-highest ratings possible, Aa1 and AA+ respectively.

The reaffirmation of ratings is connected to a bond refunding (equivalent of refinancing) program, which received Coast District Board of Trustees approval on October 7 and is anticipated to save millions for taxpayers.

"Strong financial management translates to strong bond ratings, which lowers costs for our local taxpayers on community bond programs like measures C and M," said Andrew Dunn, vice chancellor of finance and administrative services. "Part of our task over the next few years is to maintain a strong financial position by balancing competing demands and available resources."

The ratings agencies noted that state funding and enrollment challenges exist, worsened by the COVID-19 pandemic. Managing those risks going forward will be essential to preserving current ratings. Fortunately, the Coast District continues to have many advantages – with a robust tax base, innovative approach to education, proven fiscal team, and stable leadership.

The following links connect to the agencies' full analysis (accounts required):

Moody's release on the Coast Community College District

Standard & Poor's website with ratings search function

CONTACT: Erik Fallis
Director, Public Affairs and Marketing
(714) 438-4605 | efallis@cccd.edu

ABOUT THE COAST COMMUNITY COLLEGE DISTRICT

The Coast Community College District is located in Orange County and is among the largest districts in the United States. The District's three colleges – Coastline College, Golden West College, and Orange Coast College – provide traditional degree and transfer opportunities, career and technical training, basic skills, English as a Second Language, and other community programs. Thanks to the Measure M community bond funding approved by voters in 2012, the Coast Colleges are in the midst of a $698 million revitalization of educational and student support infrastructure.


Coast District Newsroom