"Moody's Places AAA Ratings Of 177 U.S. Public Finance Issuers On Review For Possible Downgrade Due To Review Of U.S. Government's AAA Rating" → Washingtons Blog
"Moody's Places AAA Ratings Of 177 U.S. Public Finance Issuers On Review For Possible Downgrade Due To Review Of U.S. Government's AAA Rating" - Washingtons Blog

Friday, July 29, 2011

"Moody's Places AAA Ratings Of 177 U.S. Public Finance Issuers On Review For Possible Downgrade Due To Review Of U.S. Government's AAA Rating"


Moody's announced today:

Moody's Investors Service has placed under review for possible downgrade the Aaa ratings of 177 public finance credits, affecting a combined $69 billion of outstanding debt. The credits include 162 local governments in 31 states, 14 housing finance programs and one university. A complete list of affected securities and additional analysis is available at www.moodys.com/USRatingActions.

These actions relate to Moody's July 13 decision to place the Aaa government bond rating of the United States under review for downgrade, and reflect the rating agency's assessment that some Aaa public finance ratings would likely be indirectly affected by potential credit deterioration of the sovereign.

***

In a previous action on July 19, Moody's placed the ratings of five Aaa U.S. state governments under review for possible downgrade, affecting approximately $24 billion of general obligation and related debt. Those states are Maryland, New Mexico, South Carolina and Tennessee and the Commonwealth of Virginia.

The entities on down grade watch include:

  • The Colorado Housing and Finance Authority's Single Family Mortgage Bonds and the Single Family Program Bonds, 2009 Class I
  • Idaho Housing and Finance Association's Single Family Mortgage Senior Bonds, Series 1996B, Series 1996C, Series 1998D, Series 1999F, Series 1999-I*, Series 2000A, Series 2000C, and Series 2000D
  • Kentucky Housing Corporation's Housing Revenue Bonds
  • Utah Housing Corporation's Single Family Mortgage Senior Bonds, Series 1998G, Series 2000A and NIBP

  • The University of Washington
  • The Smithsonian Institution
Given that Moody's and Standard & Poor both say that they'll likely downgrade U.S. credit even if a debt ceiling deal is reached, it's looking dire for the above-described entities and bond issues.

2 comments:

  1. Your lack of understanding of money and credit is a shame as you would be more alarmed as a result.

    A situation is being engineered. The objective is to damage America. Probably, merely to allow those who made billions already to invest in the assets downgraded and thereby make even more, but further possibilities exist. All of government and banking is involved. The issues are easily resolved, but the theatre is aimed at deceiving the victims.

    This has happened before, standard in fact if you have studied Kondratieff theory.

    There may be yet more behind this, this time. Expect the depression to last decades.....

    ReplyDelete
  2. Why are you focusing on these debt downgrades as if they are meaningful?

    These are the same agencies that rated junk bonds AAA during the housing bubble. THEY HAVE NO CREDIBILITY.

    What happened after S&P downgraded Japan in early 2000s? Oh right, nothing.

    You are an excellent reporter--please stop denigrating yourself by taking these fraudsters seriously@

    ReplyDelete

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