Moody's Investors Service said it has downgraded to Aa3 from Aa2 the rating on Clackamas County School District No. 62 (Oregon City), Ore.'s unlimited tax general obligation bonds outstanding in the estimated amount of $8.5 million, post-refunding.

Moody's has assigned a Aa3 rating to the district's GO refunding bonds, Series 2013. The bonds are secured by the district's full faith, credit, and unlimited property tax pledge.

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