OREANDA-NEWS. S&P Global Ratings lowered its long-term rating to 'A' from 'A+' on the Rogers County Educational Facilities Authority, Okla.'s existing educational facilities lease revenue bonds, issued on behalf of Rogers County Independent School District No. 2. The outlook is negative.

"The rating action reflects our opinion of the district's diminishing budgetary flexibility given its budgetary deficits since 2013," said S&P Global Ratings credit analyst Joyce Jung.

The negative outlook reflects our opinion that there is a one-in-three chance of a lower rating if the district's reserves and net performance weaken as a result of cuts in state aid.