Standard&Poor's Ratings Services revised its outlook on its issuer credit rating (ICR) on Romeo Community School District, Mich.'s general obligation (GO) debt outstanding to negative from stable, reflecting the district's significant projected drawdown of reserves in fiscal 2013 and continued declining enrollment trend, which affects per pupil state aid. At the same time, Standard&Poor's affirmed its 'A+' issuer credit rating (ICR) and 'AA-' enhanced long-term and underlying (SPUR) ratings on the district's existing general obligation (GO) bonds. The 'AA-' enhanced rating on the bonds reflects the district's qualification for, and participation in, the Michigan School Bond Qualification and Loan Program. The outlook on the program rating is stable. The 'A+' ICR reflects our view of the
