Moody's Investors Service said it has downgraded to A1 from Aa3 the rating on the village of Butler, Wis.'s $450,000 of outstanding general obligation unlimited tax debt.
Debt service on outstanding debt is secured by the village's GOULT pledge.
The downgrade to A1 reflects the village's narrowed general fund balance following multiple years of operating deficits. The A1 rating also takes into account the village's small residential tax base favorably located in Waukesha County (general obligation rated Aaa/stable outlook), average resident income levels, and average debt levels.
