Standard & Poor's Ratings Services said it lowered its rating to A-minus from A-plus on Freedom Town (Outagamie County), Wis.'s existing general obligation bonds.
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The outlook is stable.
"The lowered rating reflects our view of the town's very weak budgetary flexibility and negative fund balance," said Standard & Poor's credit analyst David Smith. "If the town's budgetary flexibility were to continue to remain very weak, the rating could be lowered further."
Freedom is located in Outagamie County, approximately 15 miles away from Appleton and Green Bay. The town has an estimated population of 5,991.
