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Springfield Township SD completes Phase 2 bond sale; rating lowered to AA, sale yields multi‑million savings
Summary
The district completed a bond sale to fund phase 2 of the middle school project. Standard & Poor’s lowered the rating from AA+ (with negative outlook) to AA (stable), but administrators said the downgrade had minimal impact on sale pricing and produced interest savings over the life of the bonds.
Springfield Township SD reported the results of a Phase 2 bond sale for the middle school project at the finance committee meeting on April 11.
Administrators said Standard & Poor’s downgraded the district’s rating from AA+ (with negative outlook) to AA with a stable outlook following the agency’s review. Kara Green (role/title: not specified) said the agency noted the district’s recent use of fund balance as a concern but affirmed the district remains in the top tier of ratings and removed the negative outlook.
“We went from a a plus negative outlook to a double A stable outlook,” Green…
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