Moody's Investors Service said it has downgraded to A1 from Aa3 the rating on the city of Jackson, Miss.'s water and sewer system revenue bonds affecting $154 million in previously issued debt.

At the same time, Moody's assigned an A1 rating to the city's $90 million Mississippi Development Bank special obligation bonds, Series 2013 (city of Jackson, Miss., water and sewer system revenue bond project). The outlook remains negative.

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