S&P cuts Pennsylvania's Harrisburg Area Community College revs

Wed Feb 27, 2013 12:23pm EST

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Feb 27 (Reuters) - Standard & Poor's Ratings Services on Wednesday said it cut Harrisburg Area Community College's long-term revenue bond rating to A-minus from A.

The outlook on the bonds, issued through the Pennsylvania State School Building Authority, is stable.

The rating cut reflects the college's weakened fiscal 2012 financial profile due in part to drops in enrollment, the rating agency said in a statement.

"The stable outlook reflects S&P's expectation that over the two-year outlook period, enrollment will stabilize, and the college will balance its financial operations at least on a cash basis and maintain financial resource ratios," S&P said.

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