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Manatee schools' debt ratings upgraded; district to issue COPs to fund two elementary schools
Summary
Fitch and S&P raised ratings for the school district27s debt categories ahead of a planned certificates of participation (COPs) sale to finance construction of two elementary schools. District staff said pricing will occur early March, with closing and proceeds available mid-March.
Business services staff told the School Board of Manatee County on Feb. 25 that Fitch Ratings and S&P Global recently upgraded the district27s debt ratings and the district plans a Certificates of Participation (COP) sale to fund two elementary-school construction projects.
Rachel Sellers, speaking for business services, summarized the upgrades: Fitch upgraded the long-term rating for the district27s 2025A COP series to A+, upgraded the outstanding COPs to A+, and raised the issuer default rating (IDR) and outstanding…
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