S&P cuts Decatur Public Schools, Mich. rating to 'A-'
Aug 30 (Reuters) - Standard & Poor's Ratings Services on Friday cut its issuer credit rating on Decatur Public Schools, Michigan, to A-minus from single-A. The outlook is negative.
The issuer credit rating was cut due to a substantial reduction in cash reserves, which could be further weakened by projected deficits, S&P said.
At the same time, S&P affirmed the AA-minus long-term program rating, which reflects the state bond loan fund enhancement program, with a stable outlook, S&P said.
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