Equifax, Experian, and TransUnion are to a personal credit score as Moody’s Investors Service, Inc.

(“Moody’s”), Standard & Poor’s Global Ratings (“S&P”), and Fitch Ratings Inc. (“Fitch”) are to a school

district credit rating. These institutions translate our complex life experiences into a more or less

objective scale that then determines parts of our financial lives. A school district’s credit rating, similar

to a personal credit score, is one of the most important determinants of borrowing costs and maybe a

source of community pride.

Ratings in General – Bond ratings are designed as a service to the investment community. Many

investors rely on ratings to support their internal credit and interest rate decisions as they contemplate

buying bonds like the District’s. To provide some perspective on the highs and lows of the investment

grade rating scale, the table linked below shows the investment grade ratings used by Moody’s,

Fitch and S&P Global for Ohio’s schools, cities and other municipalities.

Credit Rating Scale: https://5il.co/3juq2

Milford was recently evaluated at a current rating, Aa2, is “High Quality”.

Out of the 298 Ohio school districts that Moody’s currently rates, 52 have a Aa2 credit rating. As a benchmark, only 30 District’s rate above Milford’s with 24 districts rated Aa1 and 6 rated Aaa (the highest).

Milford’s credit strengths are strong resident incomes, robust available cash and fund balance levels (fiscal responsibility).