Moody's Investors Service said it downgrades to Aa3 from Aa2 the rating on Placentia-Yorba Linda Unified School District, Calif.'s general obligation bonds outstanding in the approximate amount of $281.2 million.

The ad valorem bonds are secured by the district's unlimited property tax pledge. Concurrently, the district's certificates of participation outstanding in the approximate amount of $109.7 million were downgraded from A1 to A2.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.