Moody's Investors Service has downgraded to Baa1 from A3 Clyde Park District, Ill.'s general obligation limited tax bonds.

The downgrade affects $2.5 million in outstanding debt. The bonds are secured by the district's general obligation limited tax pledge and benefit from a designated levy with an unlimited rate. The amount of the levy is limited by the district's statutorily authorized non-referendum debt service extension base (DSEB); however, there is no rating distinction between the district's limited tax and unlimited tax due to the presence of the designated levy and unlimited rate.

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