Moody's rates N.J. housing bonds Aa2, Aa2/VMIG1

Moody's Investors Service said it assigned an Aa2 rating to the New Jersey Housing and Mortgage Finance Agency's $75 million of single-family housing revenue bonds, 2008 series X, and an Aa2/VMIG1 rating to the $78.13 million of series Y and $37.58 million of series Z bonds.

Moody's also said it assigned an Aa2/VMIG1 rating to the remarketing of the 2004 series I bonds to variable rate from auction rate.

Sale of the series X bonds is expected on April 21. Series Y and Z bonds are expected to sell on May 1.

At the same time, Moody's said it affirmed the Aa2 rating on all of the agency's single-family housing revenue bonds.

The outlook is stable.

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