Moody’s Investors Service has downgraded to Aa3 from Aa2 the rating assigned to the California Department of Veterans Affairs home purchase revenue bonds.

The rating downgrade affects approximately $695 million of outstanding bonds. The outlook on the credit has been revised to stable from negative.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.