Moody’s Investors Service downgraded Burlington, Vt.’s general obligation bond rating to A2 from Aa3, affecting approximately $87 million of the city’s outstanding parity debt. The bonds are secured by a GO unlimited tax pledge.

Moody’s also downgraded the city’s outstanding A1-rated certificates of participation to A3 and its outstanding A2-rated COPs to Baa1, affecting $4 million and $10.4 million of outstanding COPs, respectively.

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