TPS earns high rankings from 3 credit rating firms
2/26/2009The Toledo Public Schools has earned high rankings from three credit rating agencies, good news for a district that had a bond issue pass last fall that gives it $37 million for the final phase of its project to build new or renovate all existing school buildings.
The district held a press conference Thursday morning to announce the ratings: an AA- rating from Standard & Poor's; an A3 rating from Moody's Investor Services; and an A rating from Fitch Ratings. They were determined after the firms heard presentations last month from TPS Superintendent John Foley, Treasurer Daniel Romano, and Steven Steel, president of the TPS board.
The firms praised TPS for the following: having a strong management team, continuing community support, and management's efforts to budget for staffing levels that are equal to current student enrollment.