BISD financial rating downgraded

Moody's Investors Service has downgraded the general obligation bond rating for Beaumont Independent School District.

It impacts the district's ability to borrow money.

BISD was downgraded from AA-2 to A-1.

Moody's has also given BISD a "negative" outlook.

The bad news is made somewhat less troubling because the Texas Permanent School Fund secures the bonds.


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