TITLE

Moody's: Expect More State Shakedowns of HFAs

AUTHOR(S)
Vadum, Matthew
PUB. DATE
April 2003
SOURCE
Bond Buyer;4/9/2003, Vol. 344 Issue 31611, p32
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
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.”
ACCESSION #
9582539

 

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