APPROXIMATELY $169.5 MILLION OF OUTSTANDING DEBT AFFECTED
New York, November 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.
New York
Timothy J. Mone
Associate Analyst
Public Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653
New York
Gregory W. Lipitz
Vice President - Senior Analyst
Public Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653
Moody's Investors Service
250 Greenwich Street
New York, NY 10007
U.S.A.
Moody's Investors Service has placed the ratings on 7 state housing finance agency transactions, and 22 local housing finance agency transactions, on Watchlist for possible downgrade