Printer Friendly

MOODY'S ASSIGNS Aa1 RATING TO IOWA CITY COMMUNITY SCHOOL DISTRICT, IOWA; ONLY SECOND Aa1 SCHOOL DISTRICT IN STATE

 NEW YORK, Jan. 8 /PRNewswire/ -- Effective today, Moody's Investors Service assigned an "Aa1" rating to the Iowa City Community School District's $7.9 million general obligation, unlimited tax school bonds to be sold through competitive bids on Wednesday, Jan. 13, 1993.
 High quality credit strength derives from a combination of the district's stable economic and tax base, and sound financial management, multi-year capital planning, and a low amount of rapidly retired debt. The Iowa City Community School District primarily serves Iowa City and environs, a metropolitan area which is consistently cited as having one of the lowest unemployment rates in the nation. Favorable employment opportunities offered by the University of Iowa, the state university system's flagship institution, related service industries, and light manufacturing activity have contributed to significant long-term stability and moderate growth to the local economy and school district tax base. Debt burden is low, reflecting the district's pay-as-you-go capital improvement funding over the last decade. Although continued moderate enrollment growth now requires construction of a new facility, this offering will be the district's only debt. Prospective additional borrowing is not expected to result in a significant increase in debt burden.
 -0- 1/8/93
 /CONTACT: Ann Z. Lowenthal, vice president and manager- Plains Regional Ratings Group of Moody's Public Finance Department, 212-553-0915/


CO: Iowa City School District ST: Iowa IN: SU: RTG

GK-WB -- NY061 -- 3180 01/08/93 16:45 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 8, 1993
Words:233
Previous Article:CERTAIN MBO BONDHOLDERS FILE INVOLUNTARY PETITION
Next Article:GMAC $500M 8-1/2 PERCENT SENIOR NOTES RATED 'A+,' ON FITCHALERT NEGATIVE -- FITCH FINANCIAL WIRE --


Related Articles
MOODY'S LOWERS ILLINOIS GENERAL OBLIGATION BOND RATING FROM 'AA1' TO 'AA'; ASSIGNS 'MIG 1' RATING TO CERTIFICATES OF AUGUST 1992
MOODY'S COMMENTS ON LOCAL CREDITS IN NEW JERSEY; IMPLICATION OF NEW JERSEY RATING DOWNGRADE FOR LOCAL UNITS
MADISON WATERWORKS SYSTEM REVENUE BONDS UPGRADED TO 'Aa1' BY MOODY'S FROM 'Aa'
MOODY'S ASSIGNS HIGH GRADE RATINGS TO BEVERLY HILLS WATER AND WASTEWATER REVENUE BONDS
MOODY'S ASSIGNS HIGH GRADE RATINGS TO BEVERLY HILLS WATER AND WASTEWATER REVENUE BONDS
CHEYENNE MOUNTAIN SCHOOLS BOND RATING AMONG NATION'S BEST
Toyota to issue 12-year bonds worth 50 bil. yen
Moody's upgrades CMBS deals due to increased terrorism insuance coverage. (Commercial).
Moody's affirms Citigroup's rating despite Citibank problem in Japan.
Moody's rates Toyota Finance's Japan Bonds as Aa1.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters