DALLAS - Moody's Investors Service has downgraded Fort Worth, Tex.,one notch to Aa2 from Aa1 amid ongoing accounting-system problems that have delayed audits and forced the city to use private placements for its bond sales.

The rating affects $371 million of outstanding general obligation debt. Moody's also lowered the rating on $21.9 million of 2004 lease revenue bonds to Aa3 from Aa2.

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