Moody’s Investors Service said it has downgraded the West Shore School District, Pa.’s long-term general obligation rating to A1 from Aa3 on $68.6 million of outstanding debt secured by the district’s unlimited-tax pledge.

The drop to A1 reflects the district’s deteriorating financial position, with reserve levels falling considerably in fiscal 2011 and an expected further decline in fiscal 2012.

The A1 rating also incorporates the district’s sizable tax base with above-average wealth and income levels and manageable debt burden.

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