Moody’s Approves Cardinal Schools Bond Rating
Cardinal Schools has gained a rung on Moody’s Rating ladder, district Treasurer Terry Armstrong told the board of education June 26.
Cardinal Schools has gained a rung on Moody’s Rating ladder, district Treasurer Terry Armstrong told the board of education June 26. “I was hoping for two rungs, but that’s not typical. They did consider it,” he said. “They upgraded it because our balance has stayed pretty consistent.” Armstrong provided a summary of Moody’s findings and the district’s actions, as well as an explanation of why the ratings are important. “Bond rating is used to measure the creditworthiness of a bond issuance, which can directly impact the cost of borrowing for a school district,” he said. “We were upgraded to Baa2...
