Ohio's series 2007 general obligation bonds.
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The outlook is stable.
"The rating action reflects our view of the district's weakened reserve position, following successive general fund deficits that are largely a result of the district's inability to gain voter approval for a new operating levy that would provide additional operating revenue," said Standard & Poor's credit analyst Benjamin Gallovic.
The stable outlook reflects its anticipation the district will make the expenditure reductions it deems necessary to maintain at least good cash reserves in the two-year outlook horizon.
