Moody's Investors Service has downgraded to A3 from A2 the rating on the Village of Mt. Orab, Ohio's $3.57 million general obligation limited tax debt outstanding.
The downgrade to an A3 rating on the city's outstanding general obligation debt primarily reflects the village's small tax base with taxpayer concentration; satisfactory financial operations with recent declines in general fund reserves; and increasing debt burden.
The GOLT bonds are secured by the village's general obligation limited tax pledge, subject to the 10 mill limitation.
