Moody's Investors Service said it has placed the Aa3 rating of Solebury Township, Pa.'s $32.6 million of general obligation unlimited tax debt under review for downgrade.

The review reflects the township's relatively high exposure to variable rate debt and the township's limited liquidity to handle any potential increases in the interest rate or acceleration of the principal of this debt.

Moody's expects to conclude its review of the township's rating within 90 days.

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