Moody's Investors Service downgraded Niagara Falls, N.Y.’s general obligation debt to one level above speculative grade, citing a delay in settling a dispute over a tribal casino.

The rating agency lowered the rating to Baa3 from Baa1 late on Monday and maintained a negative outlook on the city. The $65 million in outstanding debt is rated BBB-plus by Standard & Poor’s and BBB by Fitch Ratings.

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