S&P revises Rochester Area School District, Pa., outlook to negative

March 26 Tue Mar 26, 2013 12:25pm EDT

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March 26 (Reuters) - Standard & Poor's Ratings Services on Tuesday revised Rochester Area School District, Pennsylvania's A-plus bond rating outlook to negative.

S&P revised the district's "outlook to negative from stable due to the lack of a completed fiscal 2012 audit and still unavailable projections for the close of the fiscal year combined with management's projections for the use of fund balance in fiscal 2013 following unexpected expenditure increases," said S&P analyst Danielle Leonardis.

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