Bonds away, PCC pays for expansion
By KYLE KERSEY
Coming on the heels of exceptional credit ratings from Fitch Ratings and Moody’s Investors Service, two of the big three credit rating agencies in the country, Pima Community College issued revenue bonds for the funding of the Centers of Excellence Projects on Jan. 16.
Fitch awarded Pima the default rating of AA and the revenue bonds at AA - both with a stable outlook - Moody awarded Pima an equivalent rating.
According to Moody’s, “The Aa3 reflects Pima County Community College District's (PCC or the district) excellent strategic positioning given its prominent role as a low-cost provider of higher education and vocational training in the increasingly economically vibrant Tucson, Arizona, metropolitan area.”
The revenue bonds are to generate no more than $65 million, wit...