Moody's Investors Service has downgraded to B2 from Aaa the rating of $1.6 million of outstanding taxable multifamily housing revenue bonds issued by the Harrisonburg, Va., Redevelopment & Housing Authority in 2001.

The 14-notch downgrade is the result of a miscalculation when the bonds were affirmed as Aaa in 2010, according to Moody's analyst Brendan Weber.

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