Moody's Investors Service said it has downgraded to A2 from A1 the rating on the Augusta School District, Wis.'s outstanding general obligation unlimited tax debt.

The district has $4.1 million of outstanding general obligation debt, of which $3.0 million is rated by Moody's.

The downgrade reflects the district's weak general fund finances, small tax base, and weak resident income profile. The rating also incorporates the district's manageable debt burden supported by rapid principal amortization and limited future borrowing plans.

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