Dateline Monroe: Monroe Schools Bond rating plunges--"Negative" rating by Standard and Poors

(The following is a portion of an article in the Monroe Times today.)

"Learned from Finance Committee Chairman Larry Eakins that the district's bond rating went down from an A- to a BBB (triple B), according to Standard & Poor's. S&P also changed the district's outlook from positive to negative, which reflects "the continued pressure on the district's financial profile and limited appreciation in the revenue base caused by declining enrollment." For the outlook to again be positive, the district's 2008 general fund will need to have at least a positive balance, the report said. "