Moody's removes negative outlook on Dist. 21 bond rating
Moody's Investors Service has removed the negative outlook from Wheeling Township Elementary District 21's current Aa3 bond rating, district officials announced.
The credit rating agency said the removal reflects the recent improvement of the district's financial performance that is expected to continue through at least 2019. District 21 officials say they've reduced operating expenses by $19 million over the last three years.
The news comes as the district is seeking voter approval of a Nov. 6 referendum question that would allow the district to borrow $69 million for facility upgrades at all 14 buildings, including tighter security at school entrances and air conditioning in all classrooms. It would cost an extra $74 in property taxes for the owner of an average $300,000 home.
The district's rating is the fourth highest on Moody's scale.