Moody's Investors Service said it has downgraded the rating on Manatee County School Board, Fla.'s $192.2 million outstanding certificates of participation to Baa1 from A2.

Concurrently, Moody's has downgraded to A3 from A1 the rating on the school district's $36.8 million of sales tax bonds outstanding. The outlook for both ratings is negative.

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