- Associated Press - Wednesday, November 2, 2016

SANTA FE, N.M. (AP) - A credit ratings agency has reduced the credit outlook for 51 of New Mexico’s 89 school districts.

The Santa Fe New Mexican reports (https://bit.ly/2e2HW8h ) that Moody’s Investors Service also revised the outlook for New Mexico’s three research universities from stable to negative. The outlook change signals that downgrades are possible.

The downgrade comes a week after the credit agency lowered the state government’s bond rating.

Moody’s spokesman David Jacobson says universities and school districts usually have a slightly lower rating than state governments.

Santa Fe Public Schools Chief Financial Officer Carl Gruenler says the downgrade will likely negatively affect most districts by slightly increasing the cost of borrowing, including for the bond proposals currently before voters.


Information from: The Santa Fe New Mexican, https://www.sfnewmexican.com

Sign up for Daily Newsletters

Copyright © 2019 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide