Moody's Investors Service said it has downgraded to Aa3 from Aa2 the outstanding general obligation limited tax debt of the city of Middletown, Ohio.

Concurrently, Moody's assigned a Aa3 rating to the city's $5.9 million various purpose refunding bonds, series 2013 (general obligation -- limited tax). Post-sale, the city will have $39.0 million in general obligation limited tax debt outstanding.

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