Schools
Westfield School District Credit Rating Upgraded to AA+
Bond rating helped secure low bid for more than $6 million in school bonds for roof work.
Following a detailed review of the Westfield School District’s finances, the district's bond rating has moved one notch higher.
Standard & Poor's upgraded the district to a AA+ credit rating, Business Administrator Dana Sullivan stated in a press release from the district.
The underlying credit rating had a "tremendous effect on the positive result" of the district's recent financing of $6,916,000 in school bonds to provide for the replacement and/or restoration of roofs at Westfield High School, Roosevelt Intermediate School and Washington Elementary School, Sullivan said.
These roofs are currently undergoing replacement and renovation. Thirty-nine competitive bids came in from seven underwriting firms, with the lowest bid coming in at 2.609%.
“I am extremely pleased with the success of the bond bidding outcome and with the public’s previous support of these important roofing projects,” stated Superintendent of Schools Margaret Dolan.
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