Moody's says more Michigan school district downgrades possible

Tue Nov 20, 2012 1:59pm EST

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Nov 20 (Reuters) - Moody's Investors Service on Tuesday said its credit ratings outlook remains negative for Michigan school districts, which still face unprecedented fiscal stress and enrollment declines.

"Given the limited ability of some districts to close funding gaps, additional rating downgrades are possible," the Wall Street credit ratings group said in a new report.

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