Moody’s gives one Weld district lowered rating

KERSEY – A rural Weld County school district’s dependence on the oil and gas industry for its property-tax base has led to a lowered rating of its bonds as an investment.

Citing the fact that 93.4 percent of the assessed value in the Kersey-based Platte Valley Re-7 School District is tied to oil and gas interests, Moody’s Investors Service, which has been in the bond-rating business for 105 years, last week assigned an A2 rating to the $16.7 million bond issue passed by the district’s voters in November.

Voters in two other Weld County school districts — Grover-based Pawnee Re-12 and Ault-based…