Moody’s Investors Service has assigned an A1 underlying rating to Lakeland Joint School District No. 272, of Idaho’s Kootenai and Bonner counties, Series 2012 general obligation refunding bonds, which are expected to be issued in the amount of $4.4 million.
The bonds will also receive the Aaa enhancement rating of the Idaho School Bond Guaranty Program.
Concurrently, Moody’s has downgraded to A1 from Aa3 the district’s underlying rating on the $12.2 million of outstanding parity debt not being refunded by this issue. The bonds are secured by the district’s full faith, credit and unlimited property tax pledge.