CHICAGO — Moody’s Investors Service pushed the Detroit Public Schools’ underlying general obligation rating deeper into junk bond territory on Friday, lowering the credit to B1 from Ba2 and assigning a negative outlook due to its weakening fiscal position and the risk of a possible bankruptcy filing.

Moody’s action puts the rating on $5.4 million of school building and site improvement bonds from a 1996 issue — the district’s only GO debt rated by Moody’s — four notches below an investment-grade level. The bonds mature in 2011. The district has additional GO debt that carries ratings tied to the state’s credit.

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