Moody’s Investors Service downgraded a portion of Northern Municipal Power Agency, Minn.’s electric system revenue debt one notch to A3.

The rating action impacts $238.5 million of outstanding debt from issues in 2007, 2008, 2009, and 2010. At the lower level, the agency assigned a stable outlook. The downgrade reflects an overall decline in the credit quality of NMPA’s participant pool of members.

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