NEW YORK - Moody's Investors Service said it has withdrawn the Aaa rating on $12,166,794 of outstanding County of Maricopa, Ariz., Industrial Development Authority single-family mortgage revenue bonds, series 2008A draw down. The outlook has also been withdrawn.
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The rating withdrawal is due to the unscheduled termination of the guaranteed investment contact (GIC) before the maturity of the bonds. The terminated GIC has not been replaced.
The bonds were purchased by the issuer and are currently held by the trustee in an issuer custody account, but can be sold without entering into a new investment agreement.
