Altoona Area School District Finalizes Bonds

Map of Blair County, Pennsylvania, United Stat...

Map of Blair County, Pennsylvania, United States Public School Districts (Photo credit: Wikipedia)

The Altoona Area School District recently refinanced a bond series of $46 million for a net interest savings of more than $2 million.

The district’s favorable A-plus credit rating achieved by years of good financial management, a Standard and Poor’s rating services report stated, is one reason the district was able to reduce the original 4.36 percent interest rate and obtain the savings.

Market conditions providing 40-year low bond interest rates were another reason.

“The savings are higher than the estimate we had in September,” Business Manager Michelle Krebs said.

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