August 31, 2018 -- The Santa Monica-Malibu Unified School District got a boost from the nation's top credit agencies as it prepares to place a record $680 million in bonds on the November ballot, District officials announced Friday.

S & P Global upgraded the district's rating to ‘AA+’ on existing general obligation bonds, while Moody’s Investors Service affirmed it highest rating -- ‘Aaa’ -- for the second year in a row.

The new ratings are expected to save taxpayers nearly $10 million over the life of the bonds by lowering borrowing costs, District officials said.

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