Maryland Community Development Administration -- Moody's corrects rating on Maryland Community Development Administration's $7.8 million Local Government Infrastructure Bonds (Subordinate...

New York, December 14, 2012 -- Moody's Investors Service has corrected the rating on Maryland Community Development Administration's$7.8 million Local Government Infrastructure Bonds (Subordinate Obligation) 2010 Series A-2 to Aa1 from Aa3 and maintains the Aa2 rating on the Local Government Infrastructure Bonds (Senior Obligation) 2010 Series A-1. During the rating action announced on July 29, 2010, Moody's incorrectly used the methodology "U.S. State Revolving Fund Debt" instead of "Moody's Approach to Rating U.S. Municipal and Not-For-Profit Pool Financings." The correct methodology has now been utilized and today's rating action reflects that change. The outlook for both series of bonds remains negative.

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