The financial services company Moody’s Ratings has downgraded Fayette County Public Schools two notches in its credit ratings, saying the district has $938 million in outstanding debt and there are concerns over budget management.
FCPS’ issuer and general obligation unlimited tax ratings were downgraded to A2 from Aa3, dropping from the fourth-highest rating to the sixth-highest.
FCPS’ lease appropriation rating was downgraded from A1 to A3, the seventh-highest rating…