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City School District's Bond Rating Reportedly "Downgraded" In Poughkeepsie

The bond ratings have been downgraded in the Poughkeepise school district, according to the Poughkeepsie Journal.
The bond ratings have been downgraded in the Poughkeepise school district, according to the Poughkeepsie Journal. Photo Credit: Facebook/Poughkeepsie High School

POUGHKEEPSIE, N.Y. -- A bond credit agency has lowered the city school district's bond rating, according to the Poughkeepsie Journal.

Moody's Investors Service downgraded the Poughkeepsie School District's bond credit rating to Baa1 from A3, but increased its rating to A3 from A2, according to the Poughkeepsie Journal.

Around $29 million of debt is affected by these ratings, according to the Poughkeepsie Journal.

Bond ratings affect borrowing costs in a district, according to the Poughkeepsie Journal.

Click here for the Poughkeepsie Journal story.

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