Score Motion: Moody’s upgrades Martins Ferry CSD, OH’s GO to A1 from A2; assigns A1 issuer ratingGlobal Credit score Analysis – 17 Feb 2021New York, February 17, 2021 — Moody’s Traders Service has assigned an preliminary A1 issuer ranking to Martins Ferry Metropolis College District, OH. Moody’s additionally upgraded the district’s excellent common obligation limitless tax (GOULT) bonds to A1 from A2 and certificates of participation (COPs) to A2 from A3. This motion concludes a assessment for doable improve initiated on January 26, 2021 together with the discharge of the US Okay-12 Public College Districts methodology. The motion impacts $6.9 million in Moody’s rated GOULT bonds and $10.7 million in Moody’s rated COPs.RATINGS RATIONALEThe A1 issuer ranking, which displays the district’s common credit score high quality and skill to repay debt and debt-like obligations, incorporates the district’s reserves and liquidity that can stay robust for the following a number of years. Resident incomes and per capita wealth are considerably beneath common. Complete leverage is above common whereas fastened prices are manageable.The A1 GOULT is equal to the A1 issuer ranking given the district’s full religion and credit score with authority to lift advert valorem property taxes limitless as to fee or quantity.The A2 COPs ranking is one notch decrease than the final obligation ranking to replicate the chance related to annual appropriation of lease rental funds by the college district balanced in opposition to the extra important nature of the financed challenge (faculty services).RATING OUTLOOKMoody’s doesn’t normally assign outlooks to native governments with this quantity of debt.FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATINGS- Enhancements in resident wealth and incomes- Sustained decline in leverageFACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATINGS- Giant attracts on fund steadiness or liquidity- Sustained enrollment declines- Improve in leverage or fastened costsLEGAL SECURITYThe district’s common obligation bonds are secured by its full religion and credit score and pledge to levy limitless advert valorem property taxes.The COPs are secured by the Board of Training’s pledge to make annual hire funds pursuant to a lease buy settlement, topic to annual appropriation.PROFILEMartins Ferry Metropolis College District is in Belmont County (Aa3) simply throughout the Ohio River from West Virginia (Aa2 secure). The district serves a inhabitants of roughly 10,500 and enrolls about 1,400 college students within the 2020-2021 faculty 12 months.METHODOLOGYThe principal methodology utilized in these rankings was US Okay-12 Public College Districts Methodology printed in January 2021 and accessible at https://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBM_1202421. Alternatively, please see the Score Methodologies web page on www.moodys.com for a duplicate of this technique.REGULATORY DISCLOSURESFor additional specification of Moody’s key ranking assumptions and sensitivity evaluation, see the sections Methodology Assumptions and Sensitivity to Assumptions within the disclosure type. 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For provisional rankings, this announcement gives sure regulatory disclosures in relation to the provisional ranking assigned, and in relation to a definitive ranking that could be assigned subsequent to the ultimate issuance of the debt, in every case the place the transaction construction and phrases haven’t modified previous to the project of the definitive ranking in a fashion that may have affected the ranking. 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Daniel Kowalski Lead Analyst Regional PFG Chicago Moody’s Traders Service, Inc. 100 N Riverside Plaza Suite 2220 Chicago 60606 US JOURNALISTS: 1 212 553 0376 Shopper Service: 1 212 553 1653 Eric Harper Extra Contact Regional PFG Chicago JOURNALISTS: 1 212 553 0376 Shopper Service: 1 212 553 1653 Releasing Workplace: Moody’s Traders Service, Inc. 250 Greenwich Road New York, NY 10007 U.S.A JOURNALISTS: 1 212 553 0376 Shopper Service: 1 212 553 1653 © 2021 Moody’s Company, Moody’s Traders Service, Inc., Moody’s Analytics, Inc. and/or their licensors and associates (collectively, “MOODY’S”). All rights reserved.CREDIT RATINGS ISSUED BY MOODY’S CREDIT RATINGS AFFILIATES ARE THEIR CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES, AND MATERIALS, PRODUCTS, SERVICES AND INFORMATION PUBLISHED BY MOODY’S (COLLECTIVELY, “PUBLICATIONS”) MAY INCLUDE SUCH CURRENT OPINIONS. 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