Moody's Investors Service said it has downgraded to Aa3 from Aa2 the rating on the town of North Attleborough, Mass.'s general obligation debt.
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The downgrade affects $9 million of outstanding rated debt.
The downgrade to Aa3 reflects the town's limited financial flexibility as a result of using reserves to finance operating expenditures.
The rating also incorporates the sizeable tax base with favorable demographics, manageable debt burden, and large unfunded pension and OPEB liabilities.
