Standard & Poor's Ratings Services said it lowered its underlying rating to A from A-plus on Macon and Logan Counties Community Unit School District No. 11 (Warrensburg-Latham), Ill.'s previously issued general obligation school bonds.
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It assigned its A long-term rating to the district's series 2015 GO school bonds. The outlook is negative.
"The rating action reflects our view of the district's recent imbalance in general fund operations and working cash fund drawdowns," said Standard & Poor's credit analyst Andrew Truckenmiller.
