Fitch: California Ruling Is Negative for Few School Districts

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NEW YORK--(BUSINESS WIRE)--A recent ruling on lease-leaseback construction financings could slow construction procurement for some school district but will not have an impact on ratings for California schools, Fitch Ratings says. The Fifth Appellate District's ruling on Davis v. Fresno Unified School District (Fresno USD) questions the use of the structure as a means of avoiding competitive bidding but continues to allow lease-leaseback arrangements for legitimate financing purposes. The ruling

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