Moody's Downgrades to Aa2 LOC-backed Ratings of Babson College Ser. 2008A/B Variable Rev. Bonds; Affirms VMIG 1

New York, October 17, 2016 -- Moody's Investors Service (Moody's) has downgraded to Aa2 from Aaa the long-term letter of credit (LOC)-backed ratings of the Massachusetts Development Finance Agency Variable Rate Demand Revenue Bonds, Babson College Issue, Series 2008A and 2008B (the Bonds) in conjunction with the substitution of both the existing LOCs and confirming LOCs provided by Citizens Bank and the Federal Home Loan Bank of Boston, respectively, with LOCs provided by Bank of America, N.A. (the Bank) effective October 17, 2016. The short-term VMIG 1 ratings are affirmed.

Vollständigen Artikel bei Moodys lesen