Florence-Carlton School District No. 15-6, MT GO Bond Rating Placed On CreditWatch Negative Due To Delayed Audits - S&P Global Ratings’ Credit Research

Florence-Carlton School District No. 15-6, MT GO Bond Rating Placed On CreditWatch Negative Due To Delayed Audits

Florence-Carlton School District No. 15-6, MT GO Bond Rating Placed On CreditWatch Negative Due To Delayed Audits - S&P Global Ratings’ Credit Research
Florence-Carlton School District No. 15-6, MT GO Bond Rating Placed On CreditWatch Negative Due To Delayed Audits
Published Jan 16, 2025
2 pages (1065 words) — Published Jan 16, 2025
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Abstract:

CHICAGO (S&P Global Ratings) Jan. 16, 2025--S&P Global Ratings placed its 'A' long-term rating on the Florence-Carlton School District No.15-6, Mont.'s outstanding general obligation (GO) bonds on CreditWatch with negative implications. "The CreditWatch placement reflects our view of the district's weakened financial transparency, due to the material delays in completing its audited financial statements for fiscal years 2022 and 2023," said S&P Global Ratings credit analyst Kyron Smith. "If the district provides us with the requested 2023 audit within 30 days, we will conduct a full review and take a rating action within 90 days of the CreditWatch placement," Mr. Smith added. We received the fiscal 2022 audit in September 2024, but management indicates there is no clear timeline for

  
Brief Excerpt:

...January 16, 2025 CHICAGO (S&P Global Ratings) Jan. 16, 2025--S&P Global Ratings placed its 'A' long-term rating on the Florence-Carlton School District No.15-6, Mont.'s outstanding general obligation (GO) bonds on CreditWatch with negative implications. "The CreditWatch placement reflects our view of the district's weakened financial transparency, due to the material delays in completing its audited financial statements for fiscal years 2022 and 2023," said S&P Global Ratings credit analyst Kyron Smith. "If the district provides us with the requested 2023 audit within 30 days, we will conduct a full review and take a rating action within 90 days of the CreditWatch placement," Mr. Smith added. We received the fiscal 2022 audit in September 2024, but management indicates there is no clear timeline for completing its fiscal 2023 audit....

  
Report Type:

Ratings Action

Issuer
Florence-Carlton School District No.15-6
Sector
Public Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Florence-Carlton School District No. 15-6, MT GO Bond Rating Placed On CreditWatch Negative Due To Delayed Audits" Jan 16, 2025. Alacra Store. May 05, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Florence-Carlton-School-District-No-15-6-MT-GO-Bond-Rating-Placed-On-CreditWatch-Negative-Due-To-Delayed-Audits-3309809>
  
APA:
S&P Global Ratings’ Credit Research. (). Florence-Carlton School District No. 15-6, MT GO Bond Rating Placed On CreditWatch Negative Due To Delayed Audits Jan 16, 2025. New York, NY: Alacra Store. Retrieved May 05, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Florence-Carlton-School-District-No-15-6-MT-GO-Bond-Rating-Placed-On-CreditWatch-Negative-Due-To-Delayed-Audits-3309809>
  
US$ 150.00
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