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Debt Management

For information regarding the status of NEISD’s current bond programs, please visit the Construction Management & Engineering Department’s website

Information regarding the NEISD Bond Election Pledge is available here.

For the following information, please visit the Required Postings: Reports and Disclosures webpage.

  • A summary of the District’s future principal, interest payments and required disclosures
  • The District's IRMA representation letter

Each of the District’s outstanding bond official statements are available below.



Much like a person’s credit score, the District’s bond rating determines its creditworthiness and impacts its cost of borrowing money. NEISD uses Moody’s Investors Service (Moody’s) and Fitch Ratings (Fitch) to provide ratings for the District. Bond ratings are based on a scale, with Aaa (Moody’s) or AAA (Fitch) being the highest. Because the State of Texas guarantees school district debt, all NEISD debt is rated Aaa/AAA. However, the District also receives “underlying ratings” that score the creditworthiness of the District without the support of the State’s guarantee. A higher underlying rating results in lower interest rates on the District’s debt. NEISD’s ratings are in the “High Quality” section of the two rating scales. Moody’s ranks NEISD Aa1 and Fitch ranks NEISD AA+; each rating is just one step below Aaa/AAA. In determining the ratings, the rating agencies noted NEISD’s:

  1. “financial stability;”
  2. “sound operating performance;” and
  3. “strong financial management”



Since 2012, NEISD has refinanced more than $1 billion of its debt, resulting in savings to taxpayers of nearly $185 million. Additional information about the savings for each Bond Issue can be viewed in Debt Refunding Savings (pdf).