New York: Standard and Poor’s Lowers rating from ‘AAA’ to ‘AA’ on certain municipal housing issues

As reported from Reuters in New York, Aug. 8, 2011 – Standard & Poor’s Ratings Services said today it lowered to ‘AA+’ from ‘AAA’ the ratings on certain public finance debt issues that have mortgage insurance with the Federal Housing Administration (FHA).

In addition, the ratings on other public finance debt issues that have or potentially will have mortgage revenue invested in short-term instruments guaranteed by the U.S. government have also been lowered to ‘AA+’ from ‘AAA’.

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