San Luis Obispo, Calif. – Following action by the San Luis Obispo County Community College District Board of Trustees at its May 6, 2026 meeting, the district announced that Moody’s Ratings has assigned an Aa1 bond rating in connection with the district’s 2026 General Obligation Refunding Bonds, underscoring the district’s strong financial position and responsible stewardship during a transformative period for Cuesta College.
The announcement comes as the district prepares to celebrate the opening of the new San Luis Obispo Campus Center and advances construction of the new Instructional Building at the North County Campus in Paso Robles—major investments made possible through voter-approved Measure L bond funding.
In its report, Moody’s cited the district’s strong reserves, growing tax base, favorable regional economic profile, and stable financial operations as key strengths supporting the rating.
The refunding is expected to generate approximately $2.7 million in taxpayer savings over time by replacing existing higher-interest debt with lower-interest bonds. All benefits from the refunding will be delivered to property owners within the district, with no fiscal impact to the district’s General Fund.
“This rating reflects the district’s careful financial planning and commitment to responsible stewardship of public resources,” said Assistant Superintendent/Vice President of Administrative Services Dr. Todd Hampton. “By securing favorable financing terms and responsibly managing Measure L investments, we are helping protect taxpayer dollars while continuing to invest in facilities that support student success and workforce development.”
The Aa1 rating is among the highest ratings assigned to public institutions and signals strong confidence in the district’s long-term fiscal health and governance.
Moody’s also highlighted the district’s approximately $80 billion tax base and strong net asset position.
The district will celebrate the opening of the new San Luis Obispo Campus Center with a community ribbon-cutting ceremony on June 3, marking another milestone in the district’s continued investment in student success and modern learning environments.
“Cuesta College is grateful to our community for its support of Measure L, which made these projects possible, and we extend our appreciation to the Citizens’ Bond Oversight Committee for its ongoing stewardship,” said Superintendent/President Dr. Jill Stearns.
For more information on Measure L projects, visit cuestacollegebond.info.
About Cuesta College
Cuesta College empowers students to imagine and achieve brighter futures through high-quality
education, personalized support, and a welcoming community. With a main campus in
San Luis Obispo, a North County Campus in Paso Robles, a South County Center in Arroyo
Grande, and a variety of online offerings, we offer opportunities that inspire growth,
spark innovation, and open doors, helping every student succeed on their unique path.
Learn more at cuesta.edu.