Moody’s Investors Service last week placed 15 of the Mississippi Home Corp.’s Aaa-rated bond issues on watch for possible downgrade.

The action followed Moody’s downgrade of Pallas Capital Corp.’s long-term rating to Baa3 from Aaa and the downgrade of its short-term rating to P-3 from P-1. Pallas is a special-purpose corporation organized for the sole purpose of issuing guaranteed investment contracts to eligible state and local government authorities, according to Moody’s.

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