Moody's Investors Service said it has downgraded to Baa2 from A3 the city of Robstown, Texas's debt and assigned a negative outlook.

Both the bonds and certificates are direct obligations of the city, payable from ad valorem taxes levied against all taxable property within the limits prescribed by law. The Baa2 rating applies to $8.25 million in outstanding Moody's-rated debt. The city has an additional $1 million in debt outstanding that is not rated by Moody's but considered in the credit analysis.

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