New York, August 04, 2011 -- List of U.S. Public Finance Issuers Confirmed August 4,
2011 incomplete. Revised release follows.
Moody's Investors Service has confirmed the Aaa ratings of 5 U.S.
states and 303 other public finance issuers previously identified as indirectly
linked to the U.S. government. These actions follow
the August 2nd confirmation of the U.S. Aaa sovereign rating
that concluded a review for possible downgrade initiated on July 13.
In conjunction with assignment of a negative outlook the U.S.
government, the outlooks for indirectly linked U.S.
public finance issuers have been revised to negative, except for
those who remain on review for reasons unrelated to the U.S.
government rating action.
With the raising of the federal debt ceiling, the risk of a U.S.
default is removed, and the Aaa ratings assigned to the U.S.
government, and directly and indirectly linked U.S.
public finance ratings have been confirmed. While these indirectly
linked issuers' outlooks were moved to negative as a group based
on the identification of certain shared characteristics, their outlooks
will be reviewed on a case by case basis in the coming weeks. In
order to have a stable outlook, an issuer will need to have credit
quality that could be expected to remain higher than that of the U.S.
government in the event that the sovereign were downgraded from Aaa.
The indirectly linked issuers with their Aaa ratings now confirmed include
a total of 308 public finance credits. Moody's confirmed
ratings of 5 states: Maryland, New Mexico, South Carolina,
Tennessee and the Commonwealth of Virginia, with a combined $24
billion of outstanding debt. Moody's also confirmed the ratings
of 161 local governments in 31 states, with a combined $69
billion of outstanding debt. The ratings on three housing issuers
with twelve programs, and one university and one not-for-profit
institution were also confirmed.
In addition, Moody's has confirmed the ratings of the 6 intercept
programs and the enhanced ratings assigned to individual intercept financings
of 131 issuers. The outlooks for the intercept program ratings
are negative. The enhanced ratings assigned to individual financings
do not carry outlooks.
Those indirectly linked ratings that are on review for possible downgrade
for reasons unrelated to the U.S. government rating action
have not been confirmed and will remain on review.
The list of affected issuers can be found below. A complete list
of affected securities and additional analysis is available at www.moodys.com/USRatingActions.
REGULATORY DISCLOSURES
Please see the rating methodologies tab on the Credit Policy page on moodys.com
for the relevant methodology for each action.
Please see the ratings tab on the issuer / entity page on moodys.com
for the last Credit Rating Action and the rating history.
U.S. PUBLIC FINANCE ISSUERS CONFIRMED AUGUST 4, 2011
HUNTSVILLE (CITY OF) AL
MOUNTAIN BROOK (CITY OF) AL
VESTAVIA HILLS (CITY OF) AL
MANHATTAN BEACH (CITY OF) CA
METROPOLITAN WATER DISTRICT OF SOUTHERN CALIFORNIA
COLORADO HOUSING AND FINANCE AUTHORITY
DENVER (CITY & COUNTY OF) CO
EL PASO COUNTY SCHOOL DISTRICT 12 (CHEYENNE MOUNTAIN), CO
JEFFERSON (COUNTY OF) CO
DARIEN (TOWN OF) CT
EASTON (TOWN OF) CT
FAIRFIELD (TOWN OF) CT
GREENWICH (TOWN OF) CT
MADISON (TOWN OF) CT
NEW CANAAN (TOWN OF) CT
NORWALK (CITY OF) CT
RIDGEFIELD (TOWN OF) CT
WALLINGFORD (TOWN OF) CT
WESTON (TOWN OF) CT
WESTPORT (TOWN OF) CT
WILTON (TOWN OF) CT
WOODBRIDGE (TOWN OF) CT
NEW CASTLE (COUNTY OF) DE
BROWARD (COUNTY OF) FL
HILLSBOROUGH (COUNTY OF) FL
PALM BEACH (COUNTY OF) FL
PALM BEACH (COUNTY OF) FL WATER AND SEWER ENTERPRISE
COBB (COUNTY OF) GA
COBB (COUNTY OF) GA WATER AND SEWER ENTERPRISE
FORSYTH (COUNTY OF) GA
GWINNETT (COUNTY OF) GA
GWINNETT COUNTY SCHOOL DISTRICT, GA
GWINNETT COUNTY WATER & SEWERAGE AUTHORITY, GA
IDAHO HOUSING AND FINANCE ASSOCIATION (all but 1 series)
DU PAGE COUNTY FOREST PRESERVE DISTRICT, IL
WILMETTE (VILLAGE OF) IL
HAMILTON (COUNTY OF) IN
JOHNSON & MIAMI COUNTY UNIFIED SCHOOL DISTRICT 229 (BLUE VALLEY),
KS
JOHNSON (COUNTY OF) KS
JOHNSON COUNTY COMMUNITY COLLEGE, KS
JOHNSON COUNTY UNIFIED SCHOOL DISTRICT 512 (SHAWNEE MISSION), KS
JOHNSON COUNTY WATER DISTRICT 1 KS
LEAWOOD (CITY OF) KS
LENEXA (CITY OF) KS
OVERLAND PARK (CITY OF) KS
LOUISVILLE WATER WORKS BOARD, KY
STATE OF MARYLAND
BALTIMORE (COUNTY OF) MD
BOWIE (CITY OF) MD
HARFORD (COUNTY OF) MD
HOWARD (COUNTY OF) MD
MONTGOMERY (COUNTY OF) MD
PRINCE GEORGE'S (COUNTY OF) MD
ROCKVILLE (CITY OF) MD
WASHINGTON SUBURBAN SANITARY DISTRICT, MD
ACTON (TOWN OF) MA
BEDFORD (TOWN OF) MA
BELMONT (TOWN OF) MA
BROOKLINE (TOWN OF) MA
CONCORD (TOWN OF) MA
CONCORD-CARLISLE REGIONAL SCHOOL DISTRICT, MA
DOVER (TOWN OF) MA
HINGHAM (TOWN OF) MA
LEXINGTON (TOWN OF) MA
LINCOLN-SUDBURY REGIONAL SCHOOL DISTRICT, MA
NEWTON (CITY OF) MA
WAYLAND (TOWN OF) MA
WELLESLEY (TOWN OF) MA
WESTON (TOWN OF) MA
BIRMINGHAM SCHOOL DISTRICT, MI
OAKLAND SCHOOL DISTRICT, MI
DAKOTA (COUNTY OF) MN
EDINA INDEPENDENT SCHOOL DISTRICT 273, MN
HENNEPIN (COUNTY OF) MN
MAPLE GROVE (CITY OF) MN
MINNEAPOLIS (CITY OF) MN
MINNETONKA INDEPENDENT SCHOOL DISTRICT 276, MN
RAMSEY (COUNTY OF) MN
ST. LOUIS PARK (CITY OF) MN
WASHINGTON (COUNTY OF) MN
WAYZATA (CITY OF) MN
WAYZATA INDEPENDENT SCHOOL DISTRICT 284, MN
CHESTERFIELD (CITY OF) MO
LEE'S SUMMIT (CITY OF) MO
ST. LOUIS (COUNTY OF) MO
STATE OF NEW MEXICO
DURHAM (COUNTY OF) NC
GREENSBORO (CITY OF) NC
GUILFORD (COUNTY OF) NC
MECKLENBURG (COUNTY OF) NC
NEW HANOVER (COUNTY OF) NC
WAKE (COUNTY OF) NC
WINSTON-SALEM (CITY OF) NC
OMAHA (CITY OF) NE
BERGEN (COUNTY OF) NJ
MONMOUTH (COUNTY OF) NJ
MORRIS (COUNTY OF) NJ
UNION (COUNTY OF) NJ
ALBUQUERQUE METROPOLITAN ARROYO FLOOD CONTROL AUTHORITY, NM
BERNALILLO (COUNTY OF) NM
WESTCHESTER (COUNTY OF) NY
FRANKLIN (COUNTY OF) OH
LAKOTA LOCAL SCHOOL DISTRICT (BUTLER COUNTY), OH
WASHINGTON (TOWNSHIP OF) OH
OKLAHOMA (COUNTY OF) OK
OKLAHOMA CITY (CITY OF) OK
PORTLAND (CITY OF) OR
BUCKS (COUNTY OF) PA
CHESTER (COUNTY OF) PA
DOWNINGTOWN AREA SCHOOL DISTRICT, PA
GREAT VALLEY SCHOOL DISTRICT, PA
LOWER GWYNEDD (TOWNSHIP OF) PA
LOWER MERION (TOWNSHIP OF) PA
LOWER MERION SCHOOL DISTRICT (MONTGOMERY CO.) PA
MONTGOMERY (COUNTY OF) PA
TREDYFFRIN (TOWNSHIP OF) PA
TREDYFFRIN-EASTTOWN SCHOOL DISTRICT, PA
UPPER MERION (TOWNSHIP OF) PA
WEST CHESTER AREA SCHOOL DISTRICT, PA
WISSAHICKON SCHOOL DISTRICT, PA
STATE OF SOUTH CAROLINA
STATE OF TENNESSEE
FRANKLIN (CITY OF) TN
HAMILTON (COUNTY OF) TN
MEMPHIS (CITY OF) TN WATER ENTERPRISE
WILLIAMSON (COUNTY OF) TN
ALAMO COMMUNITY COLLEGE DISTRICT, TX
BEXAR (COUNTY OF) TX
DALLAS (COUNTY OF) TX
GARLAND INDEPENDENT SCHOOL DISTRICT, TX
HIGHLAND PARK INDEPENDENT SCHOOL DISTRICT (DALLAS COUNTY), TX
RICHARDSON (CITY OF) TX
SAN ANTONIO (CITY OF) TX
SAN ANTONIO RIVER AUTHORITY, TX
TARRANT (COUNTY OF) TX
TARRANT COUNTY HOSPITAL DISTRICT, TX
TRAVIS (COUNTY OF) TX
UTAH HOUSING CORPORATION
CANYONS SCHOOL DISTRICT UT
JORDAN SCHOOL DISTRICT, UT
SALT LAKE (COUNTY OF) UT
SALT LAKE CITY (CITY OF) UT
SALT LAKE CITY SCHOOL DISTRICT, UT
COMMONWEALTH OF VIRGINIA
ALBEMARLE (COUNTY OF) VA
ALEXANDRIA (CITY OF) VA
ARLINGTON (COUNTY OF) VA
CHARLOTTESVILLE (CITY OF) VA
CHESTERFIELD (COUNTY OF) VA
FAIRFAX (CITY OF) VA
FAIRFAX (COUNTY OF) VA
FAIRFAX COUNTY WATER AUTHORITY, VA
HANOVER (COUNTY OF) VA
HENRICO (COUNTY OF) VA
HERNDON (TOWN OF) VA
LOUDOUN (COUNTY OF) VA
PRINCE WILLIAM (COUNTY OF) VA
VIENNA (TOWN OF) VA
VIRGINIA BEACH (CITY OF) VA
SMITHSONIAN INSTITUTION
BELLEVUE (CITY OF) WA
KING (COUNTY OF) WA
KING COUNTY SCHOOL DISTRICT 1 (SEATTLE), WA
KING COUNTY SCHOOL DISTRICT 400 (MERCER ISLAND), WA
KING COUNTY SCHOOL DISTRICT 405 (BELLEVUE), WA
KING COUNTY SCHOOL DISTRICT 411 (ISSAQUAH), WA
KING COUNTY SCHOOL DISTRICT 414 (LAKE WASHINGTON), WA
SEATTLE (CITY OF) WA
UNIVERSITY OF WASHINGTON
MEQUON-THIENSVILLE SCHOOL DISTRICT, WI
New York
Anne Van Praagh
Vice President - Senior Analyst
Credit Policy
Moody's Investors Service, Inc.
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653
New York
Naomi Richman
MD - Public Finance
Structured Finance Group
Moody's Investors Service, Inc.
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653
Moody's Investors Service, Inc.
250 Greenwich Street
New York, NY 10007
U.S.A.
JOURNALISTS: 212-553-0376
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Correction to Text, Aug 4, 2011, Moody's confirms Aaa ratings of 5 U.S. states and 303 other public finance issuers indirectly linked to U.S. Government bond rating; negative outlooks assigned