Moody’s downgrades Johnston to A3, outlook ‘negative’

NEW YORK – Moody’s Investors Service – a globally recognized rating agency – has downgraded the town of Johnston’s general obligation rating from A2 to A3, outlook ‘negative.’ The downgrade is on Johnston’s long-term rating, affecting $24.5 million of currently outstanding general obligation debt. According to the report, the downgrade to A3 reflects continued underfunding…
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