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Milwaukee Is Downgraded

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Moody's downgraded the City of Milwaukee's bond rating, just as Mayor Barrett is launching his third campaign for governor. Awkward timing.

 

April 12 (Reuters) - Moody's Investors Service on Thursday downgraded Milwaukee's general obligation rating by one notch, to Aa2 from Aa1, citing a decline in the city's propertyvaluations and resident income levels.

The move, which affects about $963 million of outstanding GO debt, came ahead of Milwaukee's planned sale of about $445 million of bonds and notes later this month, according to Moody's.

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