Moody's upgrades M-W's bond rating

| 22 Feb 2012 | 03:24

    Central Valley - Moody’s Investors Service has upgraded the Monroe-Woodbury School District’s bond rating, a move that Superintendent Edward Mehrhof said will save the district more than half a million dollars in interest payments over the next 10 years. Mehrhof credited the efforts of Jeffrey T. White, the assistant superintendent for business and management services, in obtaining the upgrade from Moody’s, the leading provider of credit ratings, research and risk analysis. The district’s previous rating had been A1, considered an upper-medium grade whose bonds are subject to low credit risk. The new rating upgrades the district to Aa3, which is among Moody’s highest scores, signifying minimal credit risk. Mehrhof said the district will save $546,000 over the next ten years on interest payments on recently refinanced bonds; similar savings also will be realized on future interest payments.