DeKalb bonds downgraded
The Atlanta Journal-Constitution
A bond-rating agency downgraded more than $440 million of DeKalb County’s bonds on Friday based on the county’s two years of a fund balance deficit.
Moody’s Investor Services downgraded the general obligation bonds from Aa3 to Aa1 and another $20 million in appropriation-backed debt from A1 to As2.
The agency also revised the county’s outlook from stable to negative.
DeKalb will pay more in interest following the changes, which were driven by its need to dip into reserves to pay its bills for two years.
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