El Camino Community College District Maintains Upgraded Ratings for Facilities Bonds

Moody's Credit Ratings (Moody's) has assigned an “Aa1” credit rating to El Camino Community College District, CA's proposed $110.8 million 2026 General Obligation Refunding Bonds, affirming the Aa1 rating on the District's outstanding general obligation unlimited tax (GOULT) bonds. Moody's Ratings are credit opinions assessing a borrower's ability to repay debt obligations, ranging from Aaa (highest quality) to C (lowest, default). 

 

According to Moody’s, El Camino College’s Aa1 rating “reflects the District's large, diverse tax base that reached an assessed value of almost $165 billion in fiscal 2026 and is well positioned for further growth, as well as a solid median family income and projected enrollment growth.”

 

Fiscal 2025 (year-end June 30) results reflect balanced operations and the maintenance of healthy available fund balance across operating funds equal to 33% of revenue. The fiscal 2026 budget projects a similar result, a reasonable assumption given anticipated steady enrollment growth and efforts to reduce ongoing personnel costs through attrition and the elimination of select positions. The Aa1 rating also considers the strong security features of California community college district GOULT bonds that include the physical separation through a "lockbox" for pledged property tax collections and a security interest created by statute.

 

The El Camino Community College District’s 2012 General Obligation Bond, has maintained an “Aa1” rating by Moody’s Investors Service, citing high levels of reserves and liquidity, a “large, diverse tax base that is well-positioned for further growth, solid median family income of 125% of the nation, and enrollment which has begun to rebound following pandemic-related losses.”

 

“Maintaining this type of high rating for our facilities bonds is evidence of our commitment to being good stewards of public resources and preserving the voter’s trust in the service we provide to our community,” said Dr. Brenda Thames, El Camino College President/CEO. “We appreciate the support of South Bay voters as we continue to provide a first-class learning environment for all of our students.”

 

El Camino Community College District was established in 1947 and serves over half a million residents in the cities of El Segundo, Manhattan Beach, Hermosa Beach, Redondo Beach, Torrance, Lawndale, Hawthorne, Lennox and Inglewood. The district currently operates El Camino College, a 126-acre campus in Torrance, as well as a fire academy in Inglewood and a business education center in Hawthorne.