Moody's Withdraws Ratings on New York State Housing Revenue Bonds
By Katherine Hamilton
Moody's Ratings withdrew its variable municipal investment grade enhanced short-term ratings on the New York State Housing Finance Agency Housing Revenue Bonds.
The withdrawal is for bonds supported by letters of credit from Mizuho Capital Markets and guaranteed by Mizuho Bank, the ratings agency said Thursday.
Moody's said it was withdrawing for its "own business reasons," without specifying further.
The withdrawal is for ratings of the housing agency's West 30th Street Housing Revenue Bonds, 626 Flatbush Avenue Apartments Housing Revenue Bonds and 29 Flatbush Avenue Housing Revenue Bonds.
The VMIG1 rating is used to assess the ability of a municipal bond issuer to meet the obligation to purchase bonds upon investor tender. It focuses on municipal bonds with maturities of 13 months or less.
Moody's said its withdrawal doesn't impact the existing long-term ratings for the bonds.
On Wednesday, Moody's revised its credit rating for New York City to negative from stable because of what it called persistent projected budget gaps related to higher spending projections.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
March 12, 2026 14:27 ET (18:27 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
4 Stocks to Buy Before They Rise Further
2 Undervalued Stocks to Buy Before They Rebound
The 10 Best Dividend Stocks
12 Best Blue-Chip Stocks to Buy for the Long Term
United States