Moody's rates Ohio mortgage bonds Aaa

Moody's Investors Service said it assigned the following ratings to Ohio Housing Finance Agency residential mortgage revenue bonds: Aaa to $80 million 2008 series D; Aaa/VMIG1 to $45 million 2008 series E (variable-rate demand). The outlook is stable.

The expected sale date is June 18.

Moody's also affirmed the Aaa rating of the residential mortgage revenue bonds program, with $2.967 billion of outstanding parity bonds as of March 31, 2008.

The proceeds of the bonds and available funds under the indenture will be used to purchase mortgage-backed securities, fund down payment assistance grants and pay issuance costs.

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