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Moody's looking at possible credit impacts from Oklahoma tornado
May 23, 2013 / 6:56 PM / 4 years ago

Moody's looking at possible credit impacts from Oklahoma tornado

May 23 (Reuters) - The May 20 tornado that struck a suburb of Oklahoma City could impact the long-term credit quality of the school district and hospital in its path, Moody’s Investors Service said on Thursday.

The credit rating agency said it is evaluating the ability of issuers in the state to manage recovery and costs related to the tornado damage, estimated at more than $2 billion. It is also looking into whether the tornado could create challenges for issuers in making timely debt service payments.

The Moore Cleveland County Independent School District, where two elementary schools were destroyed, expects to make its $7.3 million debt payment scheduled for June 1, Moody’s said.

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