Moody’s Investor’s Service (“Moody’s”), S&P Global Ratings (“S&P”) and Kroll Bond Rating Agency (“KBRA”) reviewed, for indicative credit purposes, the business fundamentals and financial condition of the Cobb County School District. In December, 2025, all three of these credit rating agencies assigned the highest short-term credit rating (respectively) to the Cobb County School District (CCSD):

Moody’s – MIG1 (Highest Municipal Investment Grade from Moody's)

S&P – A-1+ (Highest ST Rating from S&P)

KBRA – K1+ (Highest ST Rating from KBRA)

These short-term ratings are the highest ratings available for a governmental entity. This designation denotes superior credit quality. Excellent protection is afforded by established cash flows, highly reliable liquidity support, or demonstrated broad-based access to the market for refinancing.