DALLAS (S&P Global Ratings) April 6, 2023--S&P Global Ratings lowered its long-term rating to 'AA-' from 'AA' on Canadian County Independent School District (ISD) No. 69 (Mustang), Okla.'s general obligation (GO) debt and its long-term rating to 'A+' from 'AA-' on the district's lease revenue bonds. At the same time, we assigned our 'AA-' long-term rating to the district's anticipated $14.1 million series 2023 GO combined purpose bonds and $5.5 million federally taxable series 2023 GO building bonds. The outlook is stable. "The downgrades reflect our view of the district's weakened financial position following consecutive deficits," said S&P Global Ratings credit analyst Karolina Norris. Revenue from the district's unlimited ad valorem tax secures the GO bonds. The district's lease rental
