CHICAGO (S&P Global Ratings) Feb. 9, 2017--S&P Global Ratings lowered its underlying rating to 'A+' from 'AA-' on Lake Orion Community School District, Mich.'s general obligation (GO) bonds. The outlook is stable. "The rating action reflects our view of the district's weakened reserves, following five years of consecutive general fund deficits," said S&P Global Ratings credit analyst Benjamin Gallovic. The stable outlook on the underlying rating reflects our expectation that the rating will not change over the two-year outlook horizon because we believe that the district has implemented sustainable budget changes to address the recent deficits.
