Moody's Investors Service said it has downgraded to Baa1 from A1 the city of Granite Falls, Minn.'s long-term underlying general obligation rating, affecting $6.8 million of rated GO debt outstanding.

The city's outstanding debt is secured by its general obligation unlimited tax pledge, which benefits from a dedicated property tax levy that is unlimited as to rate or amount.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.