Hallsville ISD gets upgrade in credit rating
Hallsville — Hallsville ISD’s financial rating has been upgraded by a credit rating service after a two-year dip, and the move will save the district money when it borrows money.
Moody’s Investors Service has raised the district’s rating from A3 to A1, which will affect about $84.6 million in debt, the company reported.
“The Moody’s upgrading of Hallsville’s financial condition is welcome news. It is another reflection of the board of trustees’ attention (during) some very difficult financial circumstances,” Superintendent Jim Dunlap said in a statement.
The rating is significant because it impacts interest rates the district must pay when it borrows money; however, neither the district nor Moody’s were able to say what the difference in interest rates may be between an A3 rating and an A1 rating.
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