Standard & Poor's lowered its issuer credit rating on the Aliquippa School District, Pa.'s general obligation debt to BBB from BBB-plus, while keeping a negative outlook.

"The downgrade reflects the ongoing structural imbalances because of the weak local economy and declines in revenues, which have resulted in a deeper negative general fund balance," said credit analyst Linda Yip.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.