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Parkway Bonds Increase to Highest Possible Rating - AAA

Standard & Poor's Ratings Services (S&P) has upgraded Parkway's bond rating from AA+ to AAA, the highest available for school districts.  Parkway is one of only three districts in Missouri and 33 districts in the nation to earn S&P’s AAA status.

Standard & Poor's raised Parkway's standard long-term rating to "AAA/stable" based on the district's maintenance of very strong reserves, sound financial management and below-average debt level.

"I am thrilled with this upgrade," said Superintendent Robert Malito.  "It is solid evidence that the investment community holds Parkway in very high regard."

Parkway's Chief Financial Officer Wes Garton is optimistic about the future and commented that this higher rating has real benefits to taxpayers.  "For example, if Parkway's $87 million zero-tax-rate-increase bond issue passes Nov. 4, the district could save approximately $1 million in interest expense over the life of the bonds.  Parkway bonds should also be more appealing to investors who want to minimize risk in today's market," said Garton.

According to S&P's analysis, "The stable outlook reflects Standard & Poor's expectation that the district will continue to maintain its very strong financial reserves while continuing to address its ongoing capital needs."