WASHINGTON - District of Columbia finance officials are monitoring about $330 million of the city's variable-rate demand obligations and auction-rate securities insured by Financial Security Assurance Inc. after Moody's Investors Service a week ago put the ratings of the triple-A bond insurer on review for a possible downgrade.

The district is also monitoring about $248 million of its VRDOs that have letters of credit from Bank of America NA after Fitch Ratings downgraded the bank's long-term senior debt to AA-minus from AA last week, along with a large list of municipal bonds that are backed by letters of credit from the bank.

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