Valleydale Baptist Church (The), Variable/Fixed-Rate Taxable Promissory Notes, Series 2003, $18MM Credit Rating

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Date	Document Type	Title	Source
27 Oct 2020	Sector In-Depth	Public Finance – US: Infrastructure, governments and hospitals face varying impacts from shifts in trade	Moody's Investors Service
21 Oct 2020	Compilation	US Public Finance Credit Outlook: October 21, 2020	Moody's Investors Service
21 Oct 2020	Median Reports	State Housing Finance Agencies – US: Medians – Strong loan performance boosted 2019 HFA multifamily program margins	Moody's Investors Service
21 Oct 2020	Compilation	Credit Outlook: 22 October 2020	Moody's Investors Service
20 Oct 2020	Sector In-Depth	Local Government – US: Cities shift funds as focus on policing grows; credit impact hinges on costs, social risks	Moody's Investors Service
20 Oct 2020	Sector In-Depth	State and local government – US: Asset losses avoided in fiscal 2020, but low interest rates drive pension liability spike	Moody's Investors Service
18 Oct 2020	Compilation	Credit Outlook: 19 October 2020	Moody's Investors Service
16 Oct 2020	Compilation	MuniMonitor: October 2020	Moody's Investors Service
14 Oct 2020	Compilation	US Public Finance Credit Outlook: October 14, 2020	Moody's Investors Service
12 Oct 2020	Sector Comment	Public K-12 School Districts – Pennsylvania, New Jersey and Delaware: Court decision giving schools greater flexibility to cut staff costs is credit positive	Moody's Investors Service
12 Oct 2020	Sector Profile	Public Finance – US: Credit and ratings update – September 2020	Moody's Investors Service
09 Oct 2020	Sector In-Depth	Local government – US: Public hospitals compound coronavirus-driven budget risks for large urban counties	Moody's Investors Service
08 Oct 2020	Sector In-Depth	Public K-12 School Districts – Pennsylvania: Shift to remote learning heightens cyber risk for school districts	Moody's Investors Service
07 Oct 2020	Compilation	US Public Finance Credit Outlook: October 7, 2020	Moody's Investors Service
06 Oct 2020	Median Reports	Nonprofit organizations – US: Medians - Sound revenue growth in 2019 improved operating performance	Moody's Investors Service
05 Oct 2020	Sector In-Depth	Credit Conditions – US: Next administration will confront five policy challenges with wide-ranging credit impact	Moody's Investors Service
05 Oct 2020	Sector Comment	Healthcare - US: In a boost to liquidity, hospitals get more time to repay US COVID-19 loans	Moody's Investors Service
02 Oct 2020	Sector Comment	Local Government – Michigan: State budget maintains funding for local governments, a credit positive	Moody's Investors Service
01 Oct 2020	Sector Comment	Local Government – US: Solid coverage, parent governments help shield convention center and stadium special tax debt from coronavirus risks	Moody's Investors Service
30 Sep 2020	Median Reports	State Housing Finance Agencies – US: Medians - HFAs posted strong financial performance for third straight year in 2019	Moody's Investors Service
30 Sep 2020	Sector Profile	Local Government – US: Special tax debt payment update - October 2020	Moody's Investors Service
30 Sep 2020	Compilation	US Public Finance Credit Outlook: September 30, 2020	Moody's Investors Service
28 Sep 2020	Median Reports	Community Colleges with Revenue-Backed Debt – US: Medians - Sector posted steady financial performance leading into coronavirus crisis	Moody's Investors Service
25 Sep 2020	Sector In-Depth	State Government – US: Handful of states will bear brunt of coronavirus-induced tax revenue decline	Moody's Investors Service
24 Sep 2020	Sector In-Depth	Public Finance – US: Low interest rates create pension and investment challenges but lower debt costs	Moody's Investors Service
23 Sep 2020	Compilation	US Public Finance Credit Outlook: September 23, 2020	Moody's Investors Service
22 Sep 2020	Sector In-Depth	Power Generation - US: State policies drive long-term US renewable energy demand	Moody's Investors Service
21 Sep 2020	Sector Comment	State housing finance agencies – US: Multifamily loan performance weathers rent delinquencies; federal aid, robust margins to mitigate any deterioration	Moody's Investors Service
18 Sep 2020	Sector Comment	Local government – New York: Lack of September state aid withholding is credit positive for NY school districts	Moody's Investors Service
17 Sep 2020	Sector In-Depth	Airports - US: Passenger demand to gradually improve, but credit strength will return with recovery	Moody's Investors Service
17 Sep 2020	Sector In-Depth	State and Local Government – US: Sea level rise increases credit risk for coastal states and local governments	Moody's Investors Service
16 Sep 2020	Sector In-Depth	Public Finance – US: Coronavirus crisis to spur changes in workplace and consumer behavior	Moody's Investors Service
16 Sep 2020	Compilation	US Public Finance Credit Outlook: September 16, 2020	Moody's Investors Service
11 Sep 2020	Sector Profile	PFG August Monthly Rating Action Report	Moody's Investors Service
10 Sep 2020	Sector Profile	Local Government – US: Special tax debt payment update - September 2020	Moody's Investors Service
10 Sep 2020	Sector Profile	Municipal Supported Products – US: Bank credit and liquidity commitments rebounded following muted first quarter	Moody's Investors Service
09 Sep 2020	Median Reports	Not-for-profit and public healthcare – US: Medians - Financial performance showed stability before pandemic	Moody's Investors Service
09 Sep 2020	Compilation	US Public Finance Credit Outlook: September 9, 2020	Moody's Investors Service
09 Sep 2020	Sector Profile	Not-for-profit and public healthcare – US: Medians - Operating margins grew in all regions in 2019, but expenses accelerated	Moody's Investors Service
09 Sep 2020	Sector Profile	Not-for-profit and public healthcare – US: Medians - Margins declined at smallest hospitals while increasing at largest in 2019	Moody's Investors Service
08 Sep 2020	Median Reports	State Government – US: Medians - Pension and OPEB liabilities fell in fiscal 2019 ahead of jump in 2020	Moody's Investors Service
08 Sep 2020	Sector Comment	Local government – New Jersey: Deficit financing will be an effective tool for municipalities facing revenue loss from coronavirus	Moody's Investors Service
08 Sep 2020	Sector Comment	Charter Schools – Arizona: Charter schools receive PPP funds without state funding cuts, a credit positive	Moody's Investors Service
03 Sep 2020	Sector In-Depth	Local government - Maryland: Economic diversity, stable finances will help counties counter coronavirus impact	Moody's Investors Service
02 Sep 2020	Compilation	US Public Finance Credit Outlook: September 2, 2020	Moody's Investors Service
02 Sep 2020	Sector Comment	State Government and Mass Transit - US: GARVEE programs challenged by Highway Trust Fund’s shrinking balance and coming expiration of FAST Act	Moody's Investors Service
02 Sep 2020	Sector In-Depth	Local government - Kentucky: Urban counties retain greater credit strength, despite coronavirus challenges	Moody's Investors Service
01 Sep 2020	Sector Comment	Interest Rates – US: Federal Reserve’s average inflation targeting underscores lower-for-longer rate view	Moody's Investors Service
31 Aug 2020	Sector In-Depth	Higher Education – US: Mounting uncertainty over in-person attendance threatens auxiliary revenue	Moody's Investors Service
28 Aug 2020	Sector Comment	Local Government – New York: Extended note rollover is credit positive for NY local governments and school districts	Moody's Investors Service

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