DeKalb school debt downgraded
Moody’s Investors Service is becoming more skeptical about DeKalb County School District bonds, with downgrades that will likely increase the cost of borrowing.
The bond-rating agency dropped its rating of $33 million in sales tax supported general obligation bonds (from Aa3 to A1) and certificates of participation affecting $102 million in debt (from A1 to A2).
Accreditation issues and “several ongoing lawsuits” were among the concerns in Moody’s announcement Monday. DeKalb’s “sizable” tax base “with above average, albeit weakening socioeconomic factors” and “manageable” debt also informed the decision.
About the Author
Ty Tagami is a staff writer for The Atlanta Journal-Constitution. Since joining the newspaper in 2002, he has written about everything from hurricanes to homelessness. He has deep experience covering local government and education, and can often be found under the Gold Dome when lawmakers meet or in a school somewhere in the state.
