Moody’s downgrades Duluth school district’s credit rating as reserves decline

The agency lowered the Duluth's issuer rating and several debt ratings from A3 to Baa2. Moody’s also reduced the rating on the district’s annual appropriation certificates of participation from Baa1 to Baa3. The district had about $184 million in outstanding debt as of October 2025.

Howie

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