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Moody's Downgrades Rockford Park District

Northern Public Radio | By WNIJ
Published May 12, 2014 at 5:36 AM CDT
Rockford Park District

A leading ratings agency downgraded the Rockford Park District. Moody's lowered the district's General Obligation Unlimited Tax rating from Aa2 to Aa3. According to Moody's, the action reflects the district's rapidly depreciating tax base resulting from a struggling housing market and below average socioeconomic profile.