Moody’s Investors Service last week upgraded to A1 from A2 the Cuyahoga Falls City School District’s general obligation debt.
The rating applies to $4.8 million of debt, including the district’s upcoming sale of $3.1 million of GO school improvement refunding bonds. Proceeds from the issue will be used to refinance debt issued originally in 1999 for a projected net-present value savings of 4%.
The district is located in Cuyahoga Falls, a suburb of Akron.
Since 2004, voters have approved three levies for the school district, and officials said they have a renewal levy on the November ballot that they believe will pass.