BRADENTON, Fla. — For the second year in a row, Moody's Investors Service has downgraded DeKalb County, Ga.'s general obligation rating because of pressured financial operations and the near-term challenge of restoring the general fund balance to levels consistent with a higher rating level.

Moody's dropped the county's GO rating to Aa3 from Aa1 on Friday, affecting $444 million of outstanding GO debt incurred by Georgia's third-largest county. A year ago, DeKalb lost its Aaa rating when Moody's downgraded the credit to Aa1.

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