Afton advised a charter school bond debt insurer on a series of workouts, advisory planning, and refinancing options
Afton has been retained by ACA Financial Guaranty Corporation to perform a series of financial advisory work, including reviewing existing business plans and practices, understanding the competitive landscape, and advising on short- and long-term refinancing opportunities. Afton’s work has included performing full operating, academic and financial reviews of multiple bondholders that were undergoing significant change (including the loss of a charter). Afton worked with bondholders, school leadership, local charter board members and elected officials to help facilitate an exit strategy that benefitted all parties involved, especially the families and children attending the impacted schools.
Afton has since been retained by ACA to perform reviews of other charter school holdings, with a focus on sustainability and long-term viability of each school and network, which stems from a focus on strong financial controls, transparent reporting of clear, accurate, relevant financial data, and timely reporting of academic results.
