Moody's Investors Service said it has removed from review and downgraded to Baa1 from A3 two separately secured debt issues of the North Texas Municipal Water District reflecting a change in the credit profile of the participant city: Sabine Creek Wastewater Interceptor System revenue bonds, Series 2003 and water storage contract revenue bonds (city of Royse City project), Series 2001.

The downgrade to Baa1 affects approximately $2.6 million in outstanding contract revenue debt.

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