Moody's Investors Service said it has downgraded the rating on San Francisco Community College District's general obligation bonds to A2 from A1.
The outlook is negative.
The downgrade reflects the heightened possibility that the district will lose its accreditation in approximately one year. Barring intervention from the state, the loss would result in the closure of the district.
The bonds are secured by the district's unlimited property tax pledge. The nature of that pledge as described below is a key component to the rating assignment.
