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Ambridge Area School District refinances bonds, locks in roughly $550,000 in savings and wins multi-notch upgrade
Summary
At its board meeting, financial advisors from Stifel Public Finance Group said the district refunded a callable 2014 bond issue, lowering long-term interest costs by about $550,000 without extending the debt schedule and securing a multi-notch credit rating upgrade.
John McShane of Stifel Public Finance Group told the Ambridge Area School District board that the district recently completed a refunding of a large callable bond issue, producing substantial near-term savings and an upgrade in credit rating.
"We saved close to 550,000," McShane said during the presentation to the board. He explained the firm monitored market conditions since March 2024 and executed the transaction when long-term rates dropped enough to meet a board-set savings threshold of 2…
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