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

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Date	Document Type	Title	Source
19 Oct 2018	Sector In-Depth	Local government – Virginia : Credit quality likely to remain healthy despite high debt burdens	Moody's Investors Service
19 Oct 2018	Sector Comment	State and local governments and higher education - North Carolina: Hurricane Florence relief package taps state rainy day fund and benefits local governments and universities	Moody's Investors Service
19 Oct 2018	Sector In-Depth	State housing finance agencies - US: Increasing use of bond market improves balance sheets and boosts future revenue	Moody's Investors Service
18 Oct 2018	Sector Comment	Environmental utilities - US: Colorado River water plan highlights strength of regional management, seriousness of drought	Moody's Investors Service
18 Oct 2018	Compilation	Weekly Credit Outlook - US PFG: October 18, 2018	Moody's Investors Service
18 Oct 2018	Compilation	MuniMonitor: October 2018	Moody's Investors Service
17 Oct 2018	Sector In-Depth	State and local government - US: New OPEB accounting sheds light on credit impact of retiree healthcare liabilities	Moody's Investors Service
16 Oct 2018	Sector In-Depth	Hospitals & health service providers - US: Medians - Strong demand will drive financial strength at children's hospitals	Moody's Investors Service
12 Oct 2018	Sector Comment	Cross-sector : Municipal, utility and infrastructure issuers' strong credit quality will mitigate effects of Hurricane Michael	Moody's Investors Service
11 Oct 2018	Sector In-Depth	State and local government – Pennsylvania: Rising fixed costs pressure school districts, particularly those unable to raise revenues	Moody's Investors Service
11 Oct 2018	Compilation	Weekly Credit Outlook - US PFG: October 11, 2018	Moody's Investors Service
11 Oct 2018	Sector Comment	Higher education - US: California legislation supports affordable student housing, a credit positive	Moody's Investors Service
10 Oct 2018	Sector In-Depth	State Housing Finance Agencies - US: Bonds return to favor as a cost-effective mortgage funding source for HFAs	Moody's Investors Service
08 Oct 2018	Sector Comment	State government - US: Rating changes for the 50 states from 1970	Moody's Investors Service
05 Oct 2018	Sector Comment	Higher education - US: Decreasing demand for US business schools is credit negative	Moody's Investors Service
05 Oct 2018	Sector Comment	State and local government - US: North American trade deal benefits border economies and large auto-producing states	Moody's Investors Service
05 Oct 2018	Sector In-Depth	State housing finance agencies - US: Market and public policy developments are credit positive for HFAs	Moody's Investors Service
04 Oct 2018	Sector In-Depth	Not-for-profit organizations - US: Medians - Robust investment returns fuel improved operating performance	Moody's Investors Service
04 Oct 2018	Compilation	Weekly Credit Outlook - US PFG: October 4, 2018	Moody's Investors Service
04 Oct 2018	Sector In-Depth	State housing finance agencies - US: Medians - HFAs trade upfront gains for more lasting revenue streams	Moody's Investors Service
03 Oct 2018	Sector In-Depth	Housing Financing Agencies - US: Growth in senior population will favorably impact HFA multifamily programs	Moody's Investors Service
02 Oct 2018	Sector In-Depth	State government - US: Four issues that will determine the credit impact of November's elections for states	Moody's Investors Service
02 Oct 2018	Sector In-Depth	Cross-Sector - US: Trade, healthcare and immigration policy to remain in spotlight after midterm elections	Moody's Investors Service
27 Sep 2018	Compilation	Weekly Credit Outlook - US PFG: September 27, 2018	Moody's Investors Service
26 Sep 2018	Sector Comment	State and local government - US: Federal Reserve revision pushes unfunded pension liabilities to more than $4 trillion	Moody's Investors Service
26 Sep 2018	Sector Comment	State government - New Jersey: Health benefit agreements produce savings, a credit positive	Moody's Investors Service
25 Sep 2018	Sector In-Depth	Local government - Tennessee: For counties, strong and steady wins the race	Moody's Investors Service
24 Sep 2018	Sector In-Depth	Public K-12 school districts - California: California school districts face a confluence of financial complications over next decade	Moody's Investors Service
20 Sep 2018	Compilation	Weekly Credit Outlook - US PFG: September 20, 2018	Moody's Investors Service
18 Sep 2018	Sector In-Depth	Cross-Sector - US: High healthcare costs strain governments, businesses and households, with ripple effects across the economy	Moody's Investors Service
18 Sep 2018	Sector In-Depth	Local government - Ohio: Shifting economic and demographic trends create new credit dynamics	Moody's Investors Service
17 Sep 2018	Sector Comment	Infrastructure & Project Finance: California will consume only carbon-free electricity by 2045, a credit negative for utilities and generators	Moody's Investors Service
14 Sep 2018	Sector Comment	State and local governments and infrastructure - US: Strong credit quality across municipal and infrastructure sectors mitigates effects of Hurricane Florence	Moody's Investors Service
14 Sep 2018	Sector In-Depth	US Public Finance: Self-liquidity report: Second quarter 2018	Moody's Investors Service
13 Sep 2018	Sector Comment	Municipal Supported Products – US: Q2 increase in bank support reflects end of decade-long decline in VRDBs	Moody's Investors Service
13 Sep 2018	Compilation	Weekly Credit Outlook - US PFG: September 13, 2018	Moody's Investors Service
13 Sep 2018	Sector In-Depth	Public Power Electric Utilities - US: Public Power Medians: Stability continues amid low energy prices, clean energy shift	Moody's Investors Service
12 Sep 2018	Sector Comment	State and local government - Mississippi : Mississippi's special legislative session boosts infrastructure funding, a credit positive	Moody's Investors Service
12 Sep 2018	Sector Comment	Charter schools - California : State bans for-profit charter schools, a credit positive for charter and district schools	Moody's Investors Service
07 Sep 2018	Sector Profile	State housing finance agencies - US : An overview of housing finance agencies (HFAs)	Moody's Investors Service
06 Sep 2018	Compilation	Weekly Credit Outlook - US PFG: September 6, 2018	Moody's Investors Service
05 Sep 2018	Sector Comment	State and local government - US: IRS proposal denying SALT cap workaround options is credit negative	Moody's Investors Service
04 Sep 2018	Sector Comment	Municipal electric utilities and G&T cooperatives - US: Proposed clean energy rule benefits public power and cooperative utilities with less efficient coal-fired generation	Moody's Investors Service
04 Sep 2018	Sector In-Depth	Local government - Texas: Sales tax revenues continue to grow for Texas local governments	Moody's Investors Service
31 Aug 2018	Sector In-Depth	Community colleges with revenue-backed debt - US: Medians - Enrollment continues to stabilize as increasing state funding, tax revenue outpace net tuition revenue growth	Moody's Investors Service
30 Aug 2018	Compilation	Weekly Credit Outlook - US PFG: August 30, 2018	Moody's Investors Service
29 Aug 2018	Sector Comment	State and local government - US: Infrastructure spending remains low relative to GDP, a credit negative	Moody's Investors Service
29 Aug 2018	Sector Comment	Cross-sector - Hawaii: Hawaii escapes negative effects of Hurricane Lane	Moody's Investors Service
28 Aug 2018	Sector In-Depth	Not-for-profit and public healthcare - US: Medians - Regional hospital medians mirror stress seen in national trends	Moody's Investors Service
28 Aug 2018	Sector In-Depth	Not-for-profit and public healthcare - US: Medians - Operating pressures persist as growth in expenses exceeds revenue	Moody's Investors Service

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