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Moody's cuts Amityville rating one notch

Credit rating agency Moody's Investors Service cut its rating on Amityville's debt by a notch last week, saying the village's finances are "very weak" and expected to deteriorate further.

Moody's cited the statewide property tax cap and growing fixed expenditures.

The downgrade, the third in three years, comes two months after a state audit critical of village officials found that Amityville's...

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