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Peralta Colleges Bond Rating Affirmed

30 November 2011. 0 comments

Both ratings agencies cited the Peralta Community College District for its strong management team, its tax base and the continued demand for the District’s educational services as strengths that support the District’s core values and mission statement.

“We are very pleased with both Standard and Poor’s and Moody’s ratings for the Peralta Community College District and its Other Post-Employment Benefits (OPEB) funds,” said Allen. “This means Peralta is recognized as being a solid, stable institution of higher education.”

Demand for Peralta’s educational services remains strong, given the recent economic downturn. The Peralta Community College District has historically kept enrollment at or above the state-funded cap. In fiscal year 2010, the Peralta Colleges maintained enrollment at 22,160 full time equivalent students (FTES), which is 3,150 FTES above the state-funded cap.

“This rating is among the highest bond rating in the country, and it is used in making credit and investment judgments that function to evaluate and determine risks,” Allen said.

Peralta’s management practices are considered “good” under Standard & Poor’s Financial Management Assessment (FMA) methodology. An FMA of “good” indicates that practices exist in most areas although not all may be formalized or regularly monitored by governance officials.

“While our bond ratings are good with both agencies, there is still much work to be done here at home to maintain our fiscally sound footing,” remarked Chancellor Allen.

In their report, Standard and Poor’s indicated that Peralta’s financial position has remained strong during the past three fiscal years in part due to continued demand for the District’s educational services, which tends to run countercyclical to the economy.

Since 1964, the Peralta Community College District – Berkeley City College, College of Alameda and Laney and Merritt Colleges – has served Alameda, Albany, Berkeley, Emeryville, Oakland and Piedmont by providing East Bay students of all ages with a range of educational programs and life-long learning opportunities.  To learn more, visit  http://www.peralta.edu.

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