NEW YORK - Moody's Investors Service said it has downgraded to B2 from B1 the rating on the Bexar County, Texas, Housing Finance Corporation multifamily housing revenue bonds (American Opportunity for Housing-Dublin, Kingswood, and Waterford Apartments Project) senior series 2001A and downgraded to Caa2 from B3 the rating on the subordinate series 2001B.

The outlook on the rating remains negative.

The junior subordinate Series C bonds are not rated.

The rating for the senior and subordinate bonds have been downgraded due to a deterioration of the debt service coverage levels.

 

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