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E-mail Home > Blogs > Get on the Bus > Archives > 2008 > October > 09 > Entry
Firm downgrades city schools’ debt rating
The financial firm Fitch Ratings has downgraded Dayton Public Schools’ debt rating for bonds it issued to finance the school construction program from A to A-.
This means the district does, in fact, maintain a strong rating as a good risk for bond buyers. But Fitch’s analysis of the district’s financial status and the reasons why it sees slightly more risk for investors in DPS bonds is interesting. Fitch cites the district’s budget cuts and levy failure as cause for concern, along with the general declines in Dayton’s overall economy.
It’s always interesting to see what someone else things of you, especially someone without any vested local interest — in this case someone who cares only how good a bet you are for them to invest in. Take a look and share your impressions in the comments.
Permalink | Comments (2) | Post your comment | Categories: Dayton Public Schools
Comments
By Skeptic
October 15, 2008 2:26 PM | Link to this
It seems like a reasonable assessment. The one comment that caught my attention said DPS will use 25 percent of the levy for cash reserves. I don’t think this has been communicated to the public in any of the campaign literature, or in any of DDN’s reporting.
By Mary
October 9, 2008 12:13 PM | Link to this
Cities (example, Birmingham, AL), states (California), and companies all over the country are needing bailouts or are under extreme financial stress. The credit markets are in turmoil and have probably got much worse since this link was written. I am only surprised the rating did not go down farther. It probably will. The big spending ways are catching up with everybody. The sky is falling.