NEW YORK - Moody's Investors Service said it has downgraded to A1 from Aa3 the West Shore School District, Pa.'s long-term general obligation rating on approximately $68.6 million in rated outstanding debt secured by the district's unlimited tax pledge.
The downgrade to A1 reflects the district's deteriorating financial position with reserve levels falling considerably in fiscal 2011 and expected to decline further in fiscal 2012. The A1 rating also incorporates the district's sizable tax base with above average wealth and income levels and manageable debt burden.
