Bond Buyer story says:
Moody's Investors Service downgraded the long-term underlying rating on the California Housing Finance Agency's home mortgage revenue bonds to Baa1 from A3, affecting $5.7 billion of outstanding debt.The rating agency said the drop is mainly a result of the downgrade to Ba1 last month of Genworth Mortgage Insurance Corp., which has reinsured more than 40% of CalHFA's single-family mortgage loans that are pledged as repayment for the revenue bonds.
For those with a Multnomah County library card the full June 8th Bond Buyer story can be located HERE; it will require sign in with library card number and PIN. (Well worth effort, lots of good research materials available on line).
Originally created and posted on the Oregon Housing Blog.