S&P raises Cleveland School District, Ohio GOs to 'A-'

Fri Jan 4, 2013 4:56pm EST

Related Topics

Jan 4 (Reuters) - Standard & Poor's Ratings Services raised its school issuer credit rating (ICR) on Cleveland Municipal School District, Ohio's general obligation debt to A-minus wi th a stable outlook fr o m BBB-plus on Friday.

S&P said the upgrade reflects the passage of a tax increase a nd management's steps to improve operations which h ave s tabilized t h e district's pr eviously w eak finances.

An upcoming sale of unlimited-tax GO refunding bonds was rated AA based on the district's participation in Ohio's state aid intercept program, which provides liquidity and credit support for the bonds.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.