Moody's: Expect More State Shakedowns of HFAs

Vadum, Matthew
April 2003
Bond Buyer;4/9/2003, Vol. 344 Issue 31611, p32
Trade Publication
After extracting more than $500 million from U.S. state housing finance agencies (HFA) in 2002, states who are short of funds are planning to take about $365 million in new raids on agencies this year to help close projected budget gaps, and the new raids may lead to HFA rating downgrades, says a new report that Moody's Investors Service Inc. released on April 8, 2003. The expected raids could hurt the credit ratings of the affected state housing finance agencies, according to the report by Wendy Berry, a senior vice president at Moody's, which is titled “ Unprecedented State Budget Deficits Across Nation Prompt Surge in HFA Transfer Proposals.”


Related Articles

  • After a 5-Year Run, Moody's Lowers Outlook on State HFA Sector to Stable. Vandum, Matthew // Bond Buyer;7/29/2003, Vol. 345 Issue 31687, p6 

    Reports that bonds and debts rating agency Moody's Investors Service Inc. has lowered its outlook on Washington state housing finance agency's (HFA) credits. Reason behind decision of the agency to lower the rating; Decrease in average profit of HFA during the year 2002; Impact of lowered...

  • Moody's: De Blasio Plan Credit Neutral for Housing Agency. Burton, Paul // Bond Buyer;5/14/2014, Vol. 123 Issue 34109, p1 

    The article offers information on a report by credit ratings provider and risk analysis firm Moody's Investors Service which states that New York City mayor Bill de Blasio's 10-year plan to build affordable housing units for New York City is credit neutral. It mentions that Blasio's plan hopes...

  • Top 10E-Mailed Stories.  // Bond Buyer;1/5/2009, Vol. 367 Issue 33034, p6 

    The article offers bond related news briefs in the U.S. Moody's Investors Service Inc. warns that the bad times will likely result in more rating downgrades for local governments because it will be deeper and longer lasting. State and local housing finance agencies were ready to jump into the...

  • Obama Risking Our AAA Rating. Babbin, Jed // Human Events; 

    The article discusses the probability of the U.S. losing its AAA rating. Moody's Investor Service, the primary source of the ratings, issues an AAA to a company or country which allows it to borrow at lower interest rates than the market demands of higher risk debtors. The U.S. federal deficit,...

  • Moody's Lowers Connecticut to Aa3, Citing Low Revenues, High Debt. Piazza, Johanna // Bond Buyer;7/03/2003, Vol. 345 Issue 31670, p1 

    Reports that U.S.-based ratings agency Moody's Investors Service Inc. has downgraded Connecticut's credit rating after the state began its fiscal year without an operating budget. Reason behind the downgrade of ratings; Effect of the downgrade in ratings on a multi-million swap contract signed...

  • Moody's Upgrades Flint, Mich.'s $7.4 Million of Debt. Carvlin, Elizabeth // Bond Buyer;1/20/2005, Vol. 351 Issue 32053, p6 

    Reports on the improvement of the debt of Flint, Michigan by Moody's Investors Service. Increase of the rating on unlimited-tax general obligation; Reflection of the stability in the budget; Use of the proceeds from the sale of financial recovery general obligation bonds to shore up the 2005 budget.

  • Moody's Returns Richmond, Calif .'s Debt to Investment Grade. Kelemen, Jasmina // Bond Buyer;1/13/2005, Vol. 351 Issue 32049, p3 

    The article reports on the upgradation of the credit rating of Richmond, California by Moody's Investors Service Inc. Moody's Investors Service has restored Richmond's issuer credit rating to investment grade, citing a financial turnaround for the city a year after it discovered a US$35 million...

  • Moody's Eyes Connecticut Localities in Light of Proposed Aid Cuts. Piazza, Johanna // Bond Buyer;2/20/2003, Vol. 343 Issue 31576, p25 

    Reports on the statement by rating agency Moody's Investors Service Inc. according to which it will monitor measures taken by Connecticut Governor John Rowland towards reducing budgetary deficit. Special report of Moody's with regard to the credit strength of Connecticut; Impact of aid...

  • Moody's Puts P.R. On Notice. KASKE, MICHELLE // Bond Buyer;5/4/2011, Vol. 376 Issue 33511, p1 

    The article reports on the potential credit rating downgrade faced by Puerto Rico according to Moody's Investors Service Inc. in 2011. It mentions the 28 billion dollars of outstanding Puerto Rico debt placed by Moody's on watchlist for possible downgrade as higher retirement fund contributions...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics