NEW YORK - Moody's Investors Service said it has downgraded to A1 from Aa3 the rating on the township of Aberdeen, N.J.'s general obligation unlimited tax bonds affecting $14.9 million of outstanding debt.

The downgrade to A1 reflects the borough's weakened financial position following fund balance draws in each of the last seven years.

The A1 rating also incorporates the borough's moderately sized tax base, above average wealth and income levels, and average debt burden.

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