Moody's Downgrades Josephine County, Oregon, to A2

Moody's Investors Service has downgraded Josephine County, Oregon's Full  Faith and Credit (limited tax) rating to A2 from A1 in conjunction with  the sale of its Limited Tax Pension Obligation Revenue Refunding Bonds,  Series 2012 (Federally Taxable), expected to be issued in the amount of approximately $8.2 million. Moody's also downgrades the county's issuer  rating to A1 from Aa3; the county's ratings carry a negative outlook. The current offering is secured by the full faith and credit of the county within the constitutional and statutory limitations of non-voter approved debt. Bond roceeds will refund all outstanding maturities of the county's Limited Tax Pension Obligation Revenue Bonds, Series 2001B (Federally Taxable) (Current Interest Bonds).