Fitch Ratings this week downgraded by three notches $19.7 million of sales tax revenue bonds issued by the Gravois Bluffs Transportation Development District. It placed the credit, now at the lowest investment-grade rating of BBB-minus, on rating watch negative.

The district was downgraded to BBB-minus from A-minus on bonds sold in 2007 to refund debt that funded road extensions surrounding the Gravois Bluffs East and West retail centers about 20 miles southwest of St. Louis.

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