NEW YORK (S&P Global Ratings) Oct. 31, 2016--S&P Global Ratings lowered its long-term rating on Laurel Highlands School District, Pa.'s outstanding general obligation (GO) debt to 'A-' from 'A'. The outlook is negative. "The downgrade reflects two consecutive draws on general fund reserves and further declines projected over fiscal years 2016 and 2017 that will completely deplete general fund reserves," said S&P Global Ratings credit analyst Travis McGahey, "while the negative outlook reflects the potential that budgetary results will remain weak, further reducing liquidity." If budgetary performance remains imbalanced, we could lower the rating further over our outlook horizon. The district's full-faith-and-credit GO pledge secures the bonds. Laurel Highlands School District serves an estimated population of 22,826 in Fayette County
