Fitch Ratings downgraded $4.7 billion of Clark County School District general obligation limited-tax bonds to AA and revised the outlook for the district to stable from negative.

The district operates the fifth largest school system in the country, serving more than 300,000 students. But it has seen a reversal in its previously high new enrollment growth. The district includes the cities of Las Vegas, North Las Vegas, Henderson, Boulder City, and Mesquite.

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