Carroll ISD Has Received the Highest Credit Rating Possible!

Did you know that Carroll ISD’s credit rating was recently upgraded to Aaa by Moody’s Ratings? The District’s rating was upgraded from Aa1 to Aaa - the highest credit rating issued.

This top-tier rating reflects Moody’s confidence in the District’s long-term financial strength, responsible fiscal management, and ability to meet its financial obligations. In its report, Moody’s highlighted Carroll ISD’s healthy and consistently maintained financial reserves and disciplined budgeting practices that have helped the District remain financially stable over time.

Moody’s also pointed to the District’s significantly improved debt profile as a result of the Board’s intentionality to pay down debt early through defeasance. Over the past several years, Carroll ISD has steadily reduced its leverage ratio (commonly referred to as the debt to equity ratio - down from 300% in fiscal year 2021 to 185% in fiscal year 2025) while keeping fixed costs low, strengthening long-term financial flexibility and positioning the District to respond thoughtfully to future needs.

“This Aaa rating is a direct result of intentional, disciplined financial decisions made over the past five years,” CISD Board President Cam Bryan said. “Our Board is committed to being responsible stewards of taxpayer dollars while ensuring Carroll ISD remains strong, stable, and positioned for long-term success.”

Earning an Aaa rating matters because it allows Carroll ISD to borrow money at lower interest rates when issuing bonds for school facilities and infrastructure. That translates into real savings for taxpayers and ensures more resources can be directed toward classrooms, staff, and students rather than interest payments.

Even as the District navigates enrollment shifts, rising costs, and ongoing state funding challenges, this rating serves as independent confirmation that Carroll ISD is planning wisely, living within its means, and safeguarding public dollars.

“We’re proud that Moody’s has recognized the strength of Carroll ISD’s financial foundation,” said Andrew Yeager, CISD Board Vice President. “This rating reflects a true team effort across the District to make thoughtful, disciplined financial decisions. Even as we continue to navigate ongoing funding challenges, our focus remains on long-term stability, responsible stewardship of public dollars, and ensuring Carroll ISD is well-positioned for the future.”