Moody’s Investors Service has downgraded Becker Independent School District 726’s general obligation credit by two notches due to its declining fiscal position. The rating was cut to A2 from Aa3 on $23 million of debt.

“The downgrade to an A2 rating reflects the district’s deterioration of its financial position and liquidity following several years of general fund operating deficits, limited revenue-raising flexibility, and regular use of general fund reserves to support ongoing operations,” Moody’s analysts wrote.

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