Two-thirds of the school districts in New Mexico face a lower credit rating.
Moody’s Investors Service has moved to reduce the credit outlook for 51 of the state’s 89 districts and revised the outlook for the state’s three research universities from stable to negative.
The credit action is in sync with its analysis of the state, which is facing a cash crunch because of a lower revenue forecast and the depletion of operating reserves. Moody’s last week lowered the bond rating for future state general operating bonds from its highest tier of Aaa to Aa1.
