Standard & Poor’s  placed Peralta Community College District’s general obligation ratings on negative CreditWatch because the school failed to adopt a budget for fiscal 2010.

The Oakland-based community college had $374 million of general obligation bonds and $163 million of other post-employment benefit bonds outstanding at the end of fiscal 2008, according to its most recent comprehensive annual financial report. It hasn’t completed a 2009 CAFR yet.

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