KBRA Releases Report Assigning K1+ Rating to Cobb County School District, GA’s Short-Term Construction Notes, Series 2023; Affirming K1+ Rating for Series 2022 Construction Notes and AAA Rating for Implied GO Credit

On December 5, 2022, KBRA assigned a short-term rating of K1+ to Cobb County School District, Georgia’s Short-Term Construction Notes, Series 2023 (the "Notes"). The Notes are scheduled to mature on December 15, 2023. Proceeds will finance, on a temporary basis, the current costs of constructing, improving and equipping various school facilities approved by voters at referendum, and paying expenses related thereto.

Additionally, KBRA affirmed the short-term rating of K1+ for the District’s Short-Term Construction Notes, Series 2022 due December 15, 2022, and the long-term rating of AAA with a Stable Outlook for the District’s Implied General Obligation Credit.

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Disclosures

Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above.

A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here.

Information on the meaning of each rating category can be located here.

Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.

About KBRA

Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority pursuant to the Temporary Registration Regime. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.

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