Marysville, Ohio, October 9, 2009

Marysville City Schools leaders recently learned that the District's credit rating continues to rank among the highest of Ohio school districts. Such a rating is good news for taxpayers and an indication of the District's stable financial practices. A school district that has a higher credit rating can sell bonds more easily and at lower interest rates, which means taxpayers will spend less to pay back the bonds. Bonds are used to fund renovations, technology, school buses or new schools. Moody's had last rated Marysville Schools in 2006, conducting the update late this summer and maintaining the A2 credit rating for the district.

From the perspective of financial institutions, Fifth Third's Vice President for Public Finance, John Adams, responded to the Marysville update, saying the result for the district is "well done. To hold this rating in this environment is a very good thing."

Moody's Investors Services closely examined the district's tax base and financial management to derive the credit rating. In the update process, Moody's analysts reviewed the age and condition of current school facilities, district financial forecasting procedures and business growth specific to the Marysville school district, as well as the recent financial audit completed by independent auditors and reviewed by the state auditor's office. Additionally, the ratings service also considered the change and impact of the Tangible Personal Property tax replacement for Ohio schools and the Marysville district's decision to renew, rather than replace, the operating levy on this November's ballot.

Treasurer Dolores Cramer said, "With the current economy and the state of school funding, to maintain our current rating is evidence of Moody's confidence in our district."

Board President, Jeff Mabee said the continued high credit rating shows the district's commitment to fiscal responsibility. "It is a daily challenge to maintain such a high credit rating, considering the questions yet ahead in school funding in Ohio and the impact on our students. At a time when many entities are seeing downgrades, from the rating agencies, this is a tribute to our district and community. Our taxpayers can be assured, however, that the District will continue to make responsible financial decisions."