October 21, 2013 / 9:16 PM / 4 years ago

Michigan's Saginaw City School District rating on watch negative -S&P

Oct 21 (Reuters) - Standard & Poor’s Ratings Services on Monday put Michigan’s Saginaw City School District rating on watch negative, citing a lack of required information from the district.

The action “follows repeated attempts by Standard & Poor’s to obtain timely information of satisfactory quality to maintain our rating(s) on the securities,” the rating agency said. The district’s general obligation bonds are rated triple-B.

If the credit rating agency does not receive the requested information by Nov. 4, it will likely suspend the affected rating, S&P said.

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