Standard & Poor's withdrew its BBB issuer credit rating for Willow Run Community School District at the issuer's request.
The agency said Monday that the district asked for the rating to be withdrawn after Standard & Poor's lowered it to BBB from A-minus. Analysts had cited Willow Run's "rapidly deteriorating financial position" for the downgrade and the negative outlook.
The agency also affirmed its AA rating for debt that the district issued through the Michigan State School Bond Loan Program based on the enhancement from the program.
