Moody's Investors Service Upgrades Whitefish Bay Schools' Credit Rating
The credit rating service improved the school district's rating from Aa3 to Aa2 following the settlement with Stifel Nicolaus over bad investments.
Now that the Whitefish Bay School District has reached a settlement over its failed 2006 investment, the district's credit rating has been upgraded to the level it was at prior to the financial mishap. In March, the district announced it recouped nearly all of its $1.2 million investment and was relieved from repaying $9.7 million in notes from a failed 2006 investment as part of a legal settlement reached with Stifel Nicolaus, the district's former financial advisor. Now that a settlement has been reached, Moody's Investors Service has upgraded the school district's credit rating from Aa3 to Aa2. The rating applies to $8.7 million of outstanding general obligation debt. "This is another positive step for the district as a result of the …
In this Article:
