Standard&Poor's Ratings Services revised its outlook to negative from stable and affirmed its 'AA-' issuer credit rating (ICR) on Lake Orion Community School District, Mich.'s previously issued general obligation (GO) bonds. Standard&Poor's also assigned its 'AA-' long-term rating to the district's series 2013 limited-tax GO energy conservation improvement bonds. The outlook is negative. At the same time, we affirmed our 'AA-' long-term rating and underlying rating (SPUR) on the district's previously issued bonds that are based on participation in the Michigan School Bond Qualification and Loan program. The outlook is positive. The outlook revision reflects our view of the district's planned general fund deficits, which should lead to a reduction in reserve levels. The 'AA-' school
