WASHINGTON - Moody's Investors Service has placed $2.2 billion of the Maryland Community Development Administration's Aa2-rated residential revenue bonds on watch for a possible downgrade.

The action is mostly due to an "increase in the program's loan-loss exposure" because of the recent rating downgrades of private mortgage insurance companies, which insured many of the MCDA's loans, Moody's said in a July 2 release.

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