LOS ANGELES -- Moody's Investors Service yesterday said it has lowered its rating on Reno general obligation bonds to A from A1, citing the city's narrowly based revenue structure and depleted reserves.

The action affects $65.4 million of GO bonds, including $1.6 million of new 1992 Series A bonds. Moody's also lowered its rating on the city's special assessment bonds to Baa1 from A, affecting $9.1 million of debt. That total includes $2.7 million of new local improvement district bonds for street improvements for the Dermody Business Park.

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