(Livermore, CA) – The Chabot-Las Positas Community College District (CLPCCD) is pleased to report that Standard and Poor’s has raised its bond credit rating from AA- to AA, reflecting the District’s strong financial position and reserves, diverse and growing tax base and local economy, and expenditure flexibility allowing for instructional independence.

Meanwhile, Moody’s Investors Services confirmed the District’s Aa2 bond credit rating, its second highest tier, which implies strong credit worthiness. Moody’s also cited the District’s strong socio-economic profile, strong financial operations, reserves, general fund liquidity and strong management.

“These increased ratings reflect the impressive work of the District’s team. They also provide a timely and positive position from which to launch the first issuance of our Measure A bonds,” said CLPCCD Chancellor Dr. Jannett N. Jackson.

Rating agencies assign municipal bonds a credit rating to make it faster for market participants to evaluate risk, taking into account the economic characteristics of the issuer and the bond issue to assign a rating.

Last June, voters passed the $950 million Measure A general obligation facilities bond for Chabot College in Hayward and Las Positas College in Livermore. The bond received a 65% passage from voters in Alameda and Contra Costa Counties. The bond funding will upgrade aging classrooms and technology and science labs, remove asbestos and retrofit buildings for earthquake safety, construct and repair facilities, and improve campus safety and security.

About the Chabot-Las Positas Community College District

CLPCCD serves the San Francisco East Bay Area, particularly southern Alameda County, through its two colleges: Chabot College in Hayward and Las Positas College in Livermore. CLPCCD is governed by a seven-member board of trustees which is responsible for all policy decisions. Board members are elected from trustee areas by the registered voters of nine communities: Castro Valley, Dublin, Hayward, Livermore, Pleasanton, San Leandro, San Lorenzo, Sunol, and Union City.