Fitch Ratings revised its outlook on the BB-rated St. Louis Charter School to positive from stable due to an improved financial position.
The school’s $5.1 million of debt was sold in 2002 through the Missouri Health and Educational Facilities Authority. The bonds are secured by a gross revenue pledge, a leasehold mortgage, and a debt reserve fund.
The school still carries a weak balance sheet and suffers from historically negative operating performance, but it does have a track record of stable enrollment, analysts said. It was established in 2000 and has more than 900 K-8 students.
