Moody's Investors Service said it has assigned an A2 underlying rating with a negative outlook and Aa2 enhanced (SBQLP) rating with a stable outlook to North Branch Area School District's $6.5 million refunding bonds, 2013, and downgraded to A2 from A1 the underlying rating on the district's previously issued debt and assigned a negative outlook.

Post-sale the district will have $41.5 million in outstanding general obligation debt.

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