Moody's Investors Service has downgraded Brazosport College District's Series 2006 Revenue bonds to A2 from A1. The rating action affects $6.8 million of revenue bonds. The outlook is stable.
The A2 rating reflects Brazosport's market position as a small community college, serving approximately 2,600 full-time equivalent students primarily in Brazoria County. The A2 rating incorporates revenue from highly rated sources, including the 23% from the Aaa-rated State of Texas and 35% from Aa2-rated Brazoria County. The rating also reflects the college's limited financial reserves and weak operating performance.