CHICAGO --Moody’s Investors Service has dropped Macon County School District 61 in Decatur’s general obligation rating by two notches to A3 and warned of further action by assigning a negative outlook.

The action comes ahead of the district’s sale of $7 million of taxable GO bonds and $1.5 million of GO refunding bonds. The district will have $91 million of debt outstanding after the issue but $75 million is expected to be repaid with sales taxes.

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