Moody's Investors Service has downgraded to Baa1 from A2 to New London-Spicer Independent School District 345, Minn.'s long-term underlying general obligation rating, affecting approximately $2.4 million of rated GO debt outstanding.

Moody's also has assigned a Aa2 enhanced (MSDE) rating with negative outlook to the district's $505,000 general obligation refunding bonds, Series 2012B. Post-sale, the district has $10.6 million of outstanding GO debt, of which $2.4 million is rated by Moody's.

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