CHICAGO — Milwaukee will enter the market Wednesday with a new comptroller at the helm, with a mix of about $225 million of new-money and refunding bonds and cash-flow borrowing.

While the city’s financial operations have stabilized after several difficult years, the challenges of dealing with declines in state aid and its tax base value drove Moody’s Investors Service to downgrade the city’s general obligation rating one notch to Aa2 with a stable outlook. That brought the rating in line with its AA Standard & Poor’s rating, which was affirmed last week.

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