Moody's Investors Service said it has downgraded to A2 from A1 the underlying rating on Eaton Rapids Public Schools, Mich.'s general obligation unlimited tax debt.

Concurrently, Moody's has assigned an A2 rating to the district's general obligation unlimited tax school building and site bonds, Series 2013. Additionally, Moody's has assigned an Aa2 enhanced rating with a positive outlook to the Series 2013 bonds. Post-sale, the district will have $49.8 million of general obligation debt outstanding, of which $7.8 million is rated by Moody's.

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