October 8, 2025

Charleston County School District Achieves Credit Rating Upgrade

Charleston, October 8, 2025

News Summary

The Charleston County School District has received an upgraded credit rating from S&P Global Ratings, elevated from AA to AA+. This improvement places CCSD among the top two school districts in South Carolina, matching Greenville County in creditworthiness. The rating reflects strong financial stability and management practices, which can lead to lower borrowing costs for the district. CCSD’s financial reserves are approximately 30% of operating revenues, showcasing a robust fiscal position. This achievement is seen as a significant milestone for the district’s educational investment capabilities.

Charleston

The Charleston County School District (CCSD) has achieved an upgrade in its credit rating from S&P Global Ratings, moving from an AA to an AA+ long-term general obligation bond rating. This new designation positions CCSD alongside the Greenville County School District as the only two school districts in South Carolina to hold an AA+ rating.

This upgrade reflects the district’s strong financial stability and exceptional management practices, as noted by S&P. The Chief Financial Officer of CCSD, Daniel Prentice, compared the rating to an 800 credit score, which often translates to more favorable borrowing terms for the district.

A higher credit rating generally results in lower interest rates when the district issues debt or bonds for various educational projects. As of now, CCSD’s financial reserves stand at roughly 30% of operating revenues, exceeding both state expectations and district policy requirements.

CCSD has built a steady history of positive financial performance, notably through improved budgeting strategies that facilitated this credit rating elevation. The district’s Superintendent, Anita Huggins, expressed that this rating embodies responsible management of public resources and an unwavering commitment to student success.

Prentice clarified that this recognition results from years of dedicated efforts focused on enhancing the district’s financial position via long-range planning and transparent budgeting processes. Audit and Finance Committee Chair Leah Whatley acknowledged the positive outcomes of collaboration between the Board of Trustees and district leadership in achieving this significant rating upgrade.

S&P’s assessment included a stable outlook, reflecting confidence in CCSD’s flourishing economy, conservative financial management, and manageable long-term debt. In conjunction with the upgrade to AA+, there has been a transition from a positive to a stable outlook, which is standard procedure following a ratings improvement.

Board of Trustees Chair Keith Grybowski commented on the importance of this milestone, indicating that the achievement signifies CCSD is a trustworthy steward of public funds and is well-prepared to meet its future educational needs.

Key Financial Metrics

The following key financial metrics highlight CCSD’s financial health:

Credit Rating: Upgraded to AA+
Financial Reserves: Approximately 30% of operating revenues
Rating Comparisons: Only two districts in South Carolina with AA+ rating

Conclusion

The upgrade to an AA+ rating marks a significant milestone for the Charleston County School District, positioning it favorably in terms of financial management and educational investment capabilities.

FAQ

What recent upgrade has Charleston County School District received?

The Charleston County School District has been upgraded by S&P Global Ratings from an AA to an AA+ long-term general obligation bond rating.

How many school districts in South Carolina have an AA+ rating?

This new rating places CCSD alongside Greenville County School District as the only two school districts in South Carolina to hold an AA+ rating.

What does the AA+ rating indicate about CCSD’s financial situation?

The upgrade reflects CCSD’s strong financial stability and management, according to S&P.

What does a higher credit rating mean for CCSD’s borrowing?

A higher credit rating typically results in lower interest rates when the district issues debt or bonds for projects.

What are CCSD’s financial reserves?

CCSD’s financial reserves, which are about 30% of operating revenues, exceed both state and district policy requirements.

Who commented on the significance of the rating?

Board of Trustees Chair Keith Grybowski stated that the achievement signifies that CCSD is a trustworthy steward of public funds and poised to meet future educational needs.