Moody's rates New York City housing bonds

Moody's Investors Service said it assigned an Aa1 rating to the New York City Housing Development Corp.'s $126.465 million of bonds, 2008 series A-2, A-3, C-2 and E; an Aa2/VMIG1 rating to its $174.11 million of 2008 series A-1-A, A-1-B, C-1 and D bonds; and an Aa2/VMIG1 rating to its $125.6 million of 2006 series J-1 and J-2-B bonds.

All of those series are multi-family housing revenue bonds.

Series J-1 and J-2-B are being remarketed to variable-rate mode from auction-rate mode.

Moody's also said it affirmed the Aa2 rating on the corporation's roughly $1.8 billion of outstanding multi-family housing revenue bonds.

The outlook is stable.

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