Standard&Poor's Ratings Services has revised the outlook for Holt Public Schools, Mich.'s long-term rating to negative from stable. At the same time, we affirmed our 'A+' long-term rating and the 'AA-' program rating on the district. The outlook for the 'AA-' program rating is positive. The 'AA-' program rating reflects the district's eligibility for and participation in the Michigan School Bond Loan Fund Program, while the 'A+' long-term rating reflects the district's: Proximity to the broad and diverse economy of the Lansing metropolitan area; Good-to-strong incomes; Strong reserves as of the most recent audited fiscal year, though with anticipated draws for the current and next years. Offsetting these strengths are the aforementioned structural imbalance in the district's budget,
