San Joaquin Delta College has received another strong vote of confidence from the financial community, earning an Aa2 credit rating with a “Positive” outlook from Moody’s Ratings as the college prepares to move forward with major Measure K construction projects.
The rating is welcome news for local taxpayers because it can help Delta College borrow money at lower interest rates, allowing more voter-approved bond dollars to go directly toward campus improvements, facilities, technology upgrades, and long-term infrastructure needs.
Moody’s Aa2 rating applies to approximately $130 million in upcoming Measure K bond issuances, as well as the refinancing of $38 million in existing debt from the previous Measure L bond. According to the college, the refinancing alone is expected to save taxpayers approximately $3.6 million.
The positive rating also follows Fitch Ratings’ recent reaffirmation of Delta College’s AA- credit rating, giving the college strong recognition from two independent rating agencies in the same year.
“This rating once again affirms the strong financial foundation of Delta College and the responsible stewardship of taxpayer resources,” said Superintendent/President Dr. Lisa Aguilera Lawrenson. “Receiving recognition from two independent rating agencies this year demonstrates that the College is well-positioned to deliver on the promises we made to voters through Measure K while maintaining long-term fiscal stability.”
Measure K, a $598 million facilities bond approved by voters in November 2024, is designed to support important campus and regional education projects. Priority improvements include a permanent building at the South Campus at Mountain House, information technology upgrades, energy-efficiency projects, and public safety training facilities.
Delta College expects to break ground later this month on its first Measure K construction project, a parking lot improvement and solar energy project that will strengthen campus infrastructure while helping generate long-term energy savings.
For the community, the strong financial rating means more than numbers on a balance sheet. Higher credit ratings can reduce borrowing costs, attract more investors, and help ensure that taxpayer-approved funds are used efficiently. Even small reductions in interest rates can create meaningful savings over time, allowing more resources to be directed toward classrooms, training spaces, student services, and essential campus improvements.
Board of Trustees President Dr. Charles Jennings said the college remains committed to using Measure K funds wisely and openly.
“We are committed to ensuring every Measure K dollar is invested wisely and transparently,” Jennings said. “Strong credit ratings help us maximize the value of taxpayer investments and reinforce the community's trust in the College's financial management.”
Moody’s noted Delta College’s strong financial position, healthy reserves, growing enrollment, and sound management practices as part of its assessment. Both Moody’s and Fitch also highlighted the college’s consistent practice of maintaining strong reserves, which serve as an important financial safety net during unexpected challenges or changes in the economy.
As Delta College continues planning and construction efforts under Measure K, the latest rating provides another sign of momentum for the college and the communities it serves. With major investments on the horizon, college leaders say the focus remains on accountability, transparency, and delivering long-term value for students, taxpayers, and the region.
More information about Measure K is available at deltacollege.edu/measurek.