PHILADELPHIA (AP) - A major ratings agency has boosted the credit outlook for the Philadelphia School District, a nod to the district’s improved finances and the first positive change since 2010.
Moody’s Investor Services changed the district’s credit outlook from “negative” to “stable.”
The agency also affirmed the current rating for the district’s bonds.
Superintendent William Hite says the district has made “concerted efforts to achieve and present a stabilized budget and long-term fiscal plan.”
He says it is important that agencies like Moody’s are recognizing the district’s efforts.
Moody’s says in its announcement the stable rating “reflects the district’s recently improved financial position that is expected to increase again in fiscal 2016 and remain stable in fiscal 2017.”
Please read our comment policy before commenting.