05.03.2014 23:14:00

Derry Township School District, PA -- Moody's confirms Aa1 on Derry Township SD, PA's $34.6 million of GO debt

New York, March 05, 2014 -- Moody's Investors Service has confirmed its Aa1 rating on Derry Township School District's$34.6 million of general obligation bonds rated by Moody's. The bonds are secured by the district's general obligation pledge, limited by Special Session Act 1 (Taxpayer Relief Act) which restricts school districts' ability to increase property tax millage beyond an annual index without seeking specific exemptions or voter approval. This action concludes a review for downgrade that Moody's had initiated on January 15, 2014 in conjunction with our new local government general obligation methodology.

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