Saco, Maine, Cut to Aa3 by Moody’s

NEW YORK - Moody's Investors Service has downgraded to Aa3 from Aa2 the rating on the city of Saco, Maine's $19.7 million of outstanding rated general obligation bonds. The bonds are secured by the city's general obligation limited tax pledge.

The Aa3 rating reflects the city's narrowed financial position, diverse and stable tax base, and manageable debt burden.

 

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