Moody's cuts San Francisco Community College District GO bonds

July 26 Fri Jul 26, 2013 1:49pm EDT

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July 26 (Reuters) - Moody's Investors Service said on Friday it cut San Francisco Community College District's general obligation bonds to A2 from A1, affecting about $358 million of debt.

The outlook is negative.

The downgrade reflects the increased possibility that the district will lose its accreditation in about one year, causing it to close, the rating agency said in a statement.

The City College said in July that the decision by the Accrediting Commission for Community and Junior Colleges has decided to terminate its accreditation effective July 31, 2014, is not yet final.

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