Moody's Investors Service said it has downgraded to Baa1 from A3 the rating on the village of Amityville, N.Y.'s $10.2 million long-term general obligation debt and placed it on review for possible downgrade.

The outstanding debt is secured by the village's general obligation pledge as limited by the Property Tax Cap - Legislation (Chapter 97 (Part A) of the Laws of the State of New York, 2011).

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