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Moody's downgrades prepaid gas bonds to A2
Moody's Investors Service said it downgraded to A2 from A1 the ratings of prepaid gas revenue bond transactions from five issuers following the downgrade of its rating for Merrill Lynch & Co., which serves as agreement guarantor in the transactions.
The affected notes include $537 million series 2006B, $500 million series 2007A and $474 million series 2008A Main Street Natural Gas, Inc. gas project revenue bonds; $195 million series 2007A Roseville Natural Gas Financing Authority gas revenue bonds; $886 million series 2007A and B Long Beach Bond Finance Authority natural gas purchase revenue bonds, $2.3 billion Texas Municipal Gas Acquisition & Supply Corp. I series 2006A, 2006B and 2008D gas supply revenue bonds and $630 million Public Authority for Colorado Energy series 2008 natural gas purchase revenue bonds.
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