San Ysidro School District, California; Appropriations; General Obligation.

Rationale

Standard & Poor’s Rating Service lowered its rating to ‘BBB-‘ from ‘A+’ on San Ysidro School District, Calif’s general obligation (GO) bonds based on our view of the district’s recent weakened financial position as well as the district’s disclosure that it may apply for a loan from the state to meet operational needs through fiscal 2014.

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