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Rating Update:

MOODY'S INVESTORS SERVICE HAS PLACED THE RATINGS ON THE FOLLOWING 7 STATE HOUSING FINANCE AGENCY TRANSACTIONS, AND 22 LOCAL HOUSING FINANCE AGENCY TRANSACTIONS, ON WATCHLIST FOR POSSIBLE DOWNGRADE

18 Nov 2010

APPROXIMATELY $169.5 MILLION OF OUTSTANDING DEBT AFFECTED

Yonkers Industrial Development Agency, NY
Housing
NY

Opinion

NEW YORK, Nov 18, 2010 -- Moody's Investors Service has placed the ratings on the following 7 state housing finance agency transactions, and 22 local housing finance agency transactions, on Watchlist for possible downgrade, The Watchlist action is prompted by the lack of sufficient information to maintain the rating on the transactions. If the information is not obtained within the next 30 days, we will take appropriate rating action which could include the withdrawal or lowering of the rating.

A)State Housing Finance Agency Issues

1)Maryland Community Development Administration, Multifamily Revenue Bonds(Edgewater Village), Series 2000B-1. Aaa / Watchlist for Possible Downgrade

2)Maryland Community Development Administration, Multifamily Revenue Bonds(Edgewater Village), Series 2000B-2. Aaa / Watchlist for Possible Downgrade

3)Maryland Community Development Administration, Multifamily Development Revenue Bonds (Orchard Mews Apartments Project), Series 2002C. Aaa / Watchlist for Possible Downgrade

4)New Jersey Economic Development Authority, GNMA Collateralized Mortgage Revenue Bonds (Victoria Health Corporation Project), Series 2001A & B. Aaa / Watchlist for Possible Downgrade

5)New Mexico Regional Housing Authority for Region II, Multifamily Housing Refunding Revenue Bonds (GNMA Collateralized - Country Club Apartments Project), Series 2002. Aaa / Watchlist for Possible Downgrade

6)California Statewide Communities Development Authority, Multifamily Housing Revenue Bonds (GNMA Collateralized - Lincoln Apartments Project), Series 2001. Aaa / Watchlist for Possible Downgrade

7)Texas Department of Housing & Community Affairs, Multifamily Housing Revenue Bonds. Aaa / Watchlist for Possible Downgrade

B)Local Housing Finance Agency Issues

1)City of Schenectady, Schaffer Heights Housing, Series 2000A. A2 / Watchlist for Possible Downgrade

2)Herkimer (County of) NY, I.D.A. Civic Facility Revenue Bonds (GNMA Collateralized - Folt's Adult Home Project) 2005 A & B. Aaa / Watchlist for Possible Downgrade

3)Sacred Heart Associates, L.P. Project Revenue Bonds (Sacred Heart Associates, L.P. Project), Series 2006A and 2006B. Aa1 / Watchlist for Possible Downgrade

4) (Greens Road Apartments Project), Series 2001A. Aaa / Watchlist for Possible Downgrade

5)Springfield (Township of), Ohio, Mortgage Revenue Bonds (GNMA Collateralized - Burney View Apartments Project) ,Series 2003A and B. Aaa / Watchlist for Possible Downgrade

6)Brown (County of) ,Ohio, Mortgage Revenue Bonds (GNMA Collateralized - Hyde Park West/Forest Glade Apartments Projects), Series 2003A & B. Aaa / Watchlist for Possible Downgrade

7)Franklin (County of),Ohio, Multifamily Housing Revenue Bonds (GNMA Collateralized - Waggoner Senior Housing Project) ,Series 2002A. Aaa / Watchlist for Possible Downgrade

8)Hamilton (County of),Ohio, Mortgage Revenue Bonds (GNMA Collateralized - Glen Meadows Project), Series 2002A & B. Aaa / Watchlist for Possible Downgrade

9)Franklin (County of),Ohio, Multifamily (GNMA Collateralized - Alger Green Project), Series 2002A. Aaa / Watchlist for Possible Downgrade

10)Butler County Industrial Development Authority, PA Health Care facilities Revenue Bonds(GNMA Collateralized- St. John's Lutheran Care Center Project), Series 2001A. Aaa / Watchlist for Possible Downgrade

11)St. Paul Housing & Redevelopment Authority, MN, Multifamily (GNMA Collateralized - Franciscan Health & Housing Services), Series 2001. Aaa / Watchlist for Possible Downgrade

12)Beech Grove Economic Development, Multifamily Housing Mortgage Revenue Refunding Bonds, (FHA Insured - McGregor Woods Apartments), Series 1998A. Aa2 / Watchlist for Possible Downgrade

13)New Castle (City of), IN, Economic Development, Revenue Refunding Bonds (FHA Insured Mortgage Loan - Rain Tree Square Project), Series 1997A. Aa2 / Watchlist for Possible Downgrade

14)Newburg Industrial Development Agency, NY Industrial Revenue Bonds, Series 1999 A. Aa1 / Watchlist for Possible Downgrade

15)Community Development Administration, Maryland Department of Housing and Community Development ,Multifamily Development Revenue Bonds (Park Montgomery), Series 2000C. Aaa / Watchlist for Possible Downgrade

16)Housing Authority of the City of Athens Georgia, Single Family Mortgage Revenue Bonds (GNMA & FNMA Mortgage Backed Securities Program), Series 1998 A. Aaa / Watchlist for Possible Downgrade

17)The Housing and Redevelopment Authority of The City of Saint Paul, Minnesota, and The Ramsey County Housing and Redevelopment Authority, Minnesota Multifamily Housing Revenue Bonds, (GNMA Collateralized Mortgage Loan -- Skyline Tower Project), Series 2000. Aaa / Watchlist for Possible Downgrade

18)City of Minneapolis, MN multifamily housing revenue bonds (GNMA Collateralized Mortgage Loan - Sumner Field Phase II, LP Project), Series 2003A. Aaa / Watchlist for Possible Downgrade

19)City of Minneapolis Minnesota Multifamily Housing Revenue Bonds (GNMA Collateralized Mortgage Loan Sumner Field Partners LP Project), Series 2002 A. Aaa / Watchlist for Possible Downgrade

20)City of Greeley, Colorado, Multifamily Housing Revenue Bonds (GNMA Collateralized - Meeker Commons), Series 2000. Aaa / Watchlist for Possible Downgrade

21)County of Westchester Industrial Development Agency, Civic Facility Revenue Bonds (GNMA Collateralized Mortgage Loan - Living Independently for the Elderly, Inc. Project), , Series 2001A. Aaa / Watchlist for Possible Downgrade

22)Rapides Parish Housing & Mortgage Finance Authority, LA, Taxable Refunding Bonds, Series 1991 B. Aaa / Watchlist for Possible Downgrade

What Could Change the Rating - UP

N/A

What Could Change the Rating - DOWN

Non-Receipt of Information Would Result in Moody's Inability to Maintain Rating

Asset-to-Parity Lower Than 100%.

Downgrade of a Credit Support Provider, Below Aa3, or the US Government

Moody's adopts all necessary measures so that the information it uses in assigning a credit rating is of sufficient quality and from sources Moody's considers to be reliable including, when appropriate, independent third-party sources. However, Moody's is not an auditor and cannot in every instance independently verify or validate information received in the rating process.

Please see ratings tab on the issuer/entity page on Moodys.com for the last rating action and the rating history.

The date on which some Credit Ratings were first released goes back to a time before Moody's Investors Service's Credit Ratings were fully digitized and accurate data may not be available. Consequently, Moody's Investors Service provides a date that it believes is the most reliable and accurate based on the information that is available to it. Please see the ratings disclosure page on our website www.moodys.com for further information.

Please see the Credit Policy page on Moodys.com for the methodologies used in determining ratings, further information on the meaning of each rating category and the definition of default and recovery.

Analysts

Timothy J. Mone
Analyst
Public Finance Group
Moody's Investors Service

Gregory W. Lipitz
Backup Analyst
Public Finance Group
Moody's Investors Service

Contacts

Journalists: (212) 553-0376
Research Clients: (212) 553-1653


Moody's Investors Service
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MOODY'S INVESTORS SERVICE HAS PLACED THE RATINGS ON THE FOLLOWING 7 STATE HOUSING FINANCE AGENCY TRANSACTIONS, AND 22 LOCAL HOUSING FINANCE AGENCY TRANSACTIONS, ON WATCHLIST FOR POSSIBLE DOWNGRADE
No Related Data.
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