Moody's may lower Mid-Atlantic Military Family bonds

Moody's Investors Service said it placed on watch for possible downgrade the underlying ratings on $583.8 million outstanding Mid-Atlantic Military Family Communities LLC. military housing revenue bonds, including series 2005 class I bonds rated Aaa and series 2005 class III bonds rated A2.

The action follows Moody's June 19 downgrade to A2 with a negative outlook of MBIA Insurance Corp.

The bonds were issued to finance privatized military housing located near naval facilities in Virginia and Maryland.

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