CHICAGO (S&P Global Ratings) Sept. 19, 2019--S&P Global Ratings lowered its long-term rating on Marshalltown Community School District (CSD), Iowa's outstanding general obligation (GO) bonds to 'A' from 'A+'. The outlook is negative. "The lower rating reflects our view of the district's weakened financial position, following a deficit in fiscal 2018, with an additional deficit expected for fiscal 2019, leading to reserve levels that we no longer consider comparable to those of similarly rated peers," said S&P Global Ratings credit analyst Emily Powers. The negative outlook reflects our view that there is at least a one-in-three chance of a lower rating in the two-year outlook horizon if the district's budgetary imbalance persists through fiscal 2019 or continues into subsequent years,
