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Moody's cuts Santa Ana, Calif. USD GO rating to Aa3
Sept 12 |
Sept 12 (Reuters) - Moody's Investors Service said on Wednesday it cut California's Santa Ana Unified School District's general obligation bond rating to Aa3 from Aa2, affecting about $332.5 million of debt.
The downgrade reflects the district's weakened financial position and an imbalanced budget that will take several years to fix, the rating agency said in a statement.
The outlook on all of the district's debt is negative.
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