BRADENTON, Fla. — Moody's Investors Service Wednesday joined Fitch Ratings and dropped its underlying rating on Orlando, Fla.'s highly leveraged tourist-tax revenue bonds into junk territory, while Standard & Poor's placed the rating on negative watch.

The bonds were sold in February 2008 to finance the largest chunk of the city's new $480 million downtown multi-use events center that also will be the new home of the National Basketball Association's Orlando Magic.

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