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Philadelphia SD, Pa., Downgraded to Ba2 by Moody's

Moody's Investors Service said it has downgraded to Ba2 from Ba1 the rating of the Philadelphia School District, Pa., affecting $2.2 billion in general obligation debt directly issued by the district and $1.1 billion in parity debt issued through the State Public School Building Authority (SPSBA); the outlook remains negative.

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