Closing 12% of Philadelphia Schools Creates Winners: Muni Credit
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The Philadelphia school Kisha Javis’s daughter attends is among buildings that may close in June as the eighth-biggest U.S. district tackles deficits. Investors have backed the fiscal plan, pushing the district’s municipal bonds to a three-month high.
Officials facing a $1.35 billion spending gap over five years are set to vote tomorrow on a proposal to shut almost 12 percent of Philadelphia’s public schools. Javis and other parents say the district should find other ways to fix its finances.