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Eastport South Manor wins S&P upgrade; district says it will lower borrowing costs for planned capital projects
Summary
The district’s business office announced S&P Global upgraded Eastport South Manor’s rating from double A-minus to double A with a stable outlook. Officials said the upgrade will reduce interest costs as the district prepares roughly $70 million in borrowing for capital projects and that the district expects measurable interest savings over the next decade.
Eastport South Manor Central School District officials announced that S&P Global upgraded the district’s municipal bond rating from double A-minus to double A with a stable outlook, a change the business office said will lower borrowing costs as the district moves forward with major capital borrowing.
The announcement was delivered at the board meeting on May 7 by the district’s assistant superintendent for business, Tim Laube, who reviewed the…
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