St. Louis Park (City of) MN -- Moody's downgrades to Aa2 LOC-backed St. Louis Park, MN (Urban Park Project) Series 2010B. VMIG 1 affirmed.

New York, September 22, 2016 -- Moody's Investors Service (Moody's) has downgraded to Aa2 from Aaa the long-term credit enhanced rating as well as affirmed the VMIG 1 short-term credit enhanced rating of the City of St. Louis Park, Minnesota Subordinate Variable Rate Demand Multifamily Housing Refunding Revenue Bonds (Urban Park Apartments Project) Series 2010B (Bonds). The rating actions are in connection with the issuance of a substitute confirming letter of credit (CLOC) from U.S. Bank National Association (Bank). The substitute CLOC will replace the current CLOC provided by The Federal Home Loan Bank of Des Moines.

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