Washougal school district’s credit rating upgraded

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Moody’s Investors Service recently upgraded the Washougal School District’s bond credit rating, district officials said.

The district’s new credit rating is “Aa3,” two steps above the “A2” rating awarded during the most recent review in 2000. The bond credit rating service noted Washougal’s improved ability to sustain balanced budgets through difficult financial times and maintain financial reserves.

The district applied for the rating in hopes of refinancing a portion of its outstanding debt at lower interest rates, officials said.