Moody's Investors Service said it has downgraded Morehouse College, Ga.'s rating to A3 from A2 on the Series 2007 bonds issued through the Development Authority of Fulton County.

The downgrade of the college's rating to A3 with a negative outlook reflects continued pressure on enrollment and trend of declining net tuition revenue, declining financial resources and liquidity, weak cash flow, and a transitional management team.

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