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Moody's Downgrades Duluth School District Bond Rating

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The logo of credit rating agency Moody's Investor Services is seen outside the office in Paris October 24, 2011. REUTERS/Philippe Wojazer
The logo of credit rating agency Moody's Investor Services is seen outside the office in Paris October 24, 2011. REUTERS/Philippe Wojazer

DULUTH, MN (KDAL) - The Duluth School District's bond rating has been downgraded by Moody's Investors Service from Baa1 to Baa2.  The new rating would affect interest rates for borrowing and bond buying.  The District's Executive Director for Business Services, Bill Hanson, says the big issue in the downgrading is the failure to sell surplus property including the former Central High School.  Moody's says the outlook reflects the expectation that district operations will continue to be unbalanced until land sales materialize.

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