NEW YORK - Moody's Investors Service said it has placed the Aa3 rating of Lopatcong, N.J., under review for possible downgrade, affecting $7.8 million in rated debt.

The watchlist action is prompted by Moody's belief that the township may have had further weakening of financial operations in fiscal 2011, given the historical reliance on fund balance drawdowns and the lack of sufficient current financial and operating information.

If the information is not obtained within the next 60 days, Moody's said it will take appropriate rating action which could include the withdrawal or lowering of the rating.

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