School District Gets a Hike

Shields, Yvette
January 2006
Bond Buyer;1/25/2006, Vol. 355 Issue 32305, p27
Trade Publication
This article reports that in the third week of January 2005, the rating of the Cedar Rapids Community School District, Iowa, was upgraded from A1 to Aa3 by Moody's Investors Service Inc. The move affects a total of $41.6 million of debt. The deal will advance refund the district's Series 2001 and 2002 GOs for present-value savings of $776,997, or 2.46%. According to Moody's analysts, the upgrade is based on the district's sizable tax base, and healthy growth with above-average wealth levels benefiting from its location in Cedar Rapids.


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