Moody's Investors Service said it has downgraded to A1 from Aa3 the rating on Lac du Flambeau School District 1, Wis.'s outstanding general obligation debt.

Concurrently, Moody's has assigned an A1 rating to the district's $1.0 million general obligation promissory notes, Series 2013. The A1 rating applies to $1.8 million of outstanding general obligation debt, including the current offering.

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