DALLAS – Fitch Ratings’ recent downgrade of 23 charter schools, including the KIPP Academy in Houston, comes as the Texas Legislature to ease funding pressures for the schools.

KIPP Houston, which issued nearly $65 million for school facilities in 2009 through the LaVernia Higher Education Finance Corp., saw its Fitch Rating fall to junk-level BB-plus from BBB after the downgrade of 23 of 28 Fitch-rated charter schools on Friday. The outlook returned to stable.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.