Moody's rates Northwest I.S.D. bonds Aa3

Moody's Investors Service said it assigned a Aa3 underlying rating to the Northwest Independent School District's, Texas, $57.2 million unlimited tax school building and refunding bonds, series 2008, and upgraded to Aa3 from A1 the underlying rating affecting $398.6 million in outstanding parity debt.

Proceeds will be used to finance the construction of new school facilities while $2.7 million will refund outstanding debt for savings.

The upgrade to Aa3 reflects a rapidly expanding tax base and the district's established trend of notably strong general fund reserves, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.