BRADENTON, Fla. — Standard & Poor's downgraded the rating of the 13-year-old Learning Gate Community School in Lutz, Fla. to BB from BBB-minus citing weak liquidity and operating performance, and closure of an associated facility.

The below-investment grade rating affects $7.5 million of 2007 A bonds maturing in 2037 and B bonds maturing in 2017 issued by the Florida Development Finance Corp. on behalf of LGCS.

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