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Article: Nine districts in Minneapolis/St. Paul affected by Moody's actions. (school districts' general obligation debt downgraded)
- Article from:
- The Bond Buyer
- Article date:
- April 30, 1992
- Author:
CopyrightCOPYRIGHT 1992 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHICAGO -- Moody's Investors Service yesterday downgraded the general obligation debt ratings of seven school districts in the Minneapolis/St. Paul metropolitan region and upgraded two others.
The rating actions were taken in conjunction with the release of a special report on the 40 school districts in the metropolitan region for which Moody's has outstanding GO ratings. Those 40 districts have a total of $827 million of GO debt, according to Ann Lowenthal, vice president and manager of Plains region ratings at Moody's.
The downgrades of the seven school districts affected $96.45 million of outstanding GO debt. Nearly half of that debt -- $42.2 ...