Moody's Investors Service said it has downgraded to Aa1 from Aaa the rating on Lakota Local School District's (Butler County, Ohio) general obligation unlimited tax and general obligation limited tax debt outstanding.

Concurrently, Moody's assigned a Aa1 rating to the district's $7.8 million refunding bonds Series 2013 (general obligation unlimited tax). Post-sale, the district will have $142 million general obligation unlimited tax debt outstanding and $8.27 million general obligation limited tax debt outstanding.

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