In Jefferson Cty. School Dist. v. Moody's Investor's (D.Colo. 1997) 988 F. Supp. 1341, the statement itself, irrespective of the disclaimer, was an opinion. Moody's said: " 'The outlook on the district's general obligation debt is negative, reflecting the district's ongoing financial pressures due in part to the state's past underfunding of the school finance act as well as legal uncertainties and fiscal constraints under Amendment 1.' " (Id. at p. 1343.) In granting a motion to dismiss, the court found that the statement "the outlook on the district's . . . debt is negative" did not contain a provably false financial connotation; that the district had not alleged any facts supporting a finding that statements regarding its ongoing financial pressures were false; and that the statement did not imply the existence of undisclosed supporting facts, as the statement explicitly set forth the facts underlying its conclusion that the district had a negative outlook. (Id. at p. 1345.)