Moody's Investors Service yesterday put $547.4 million of bonds issued to build the New York Mets' Citi Field stadium on review for possible downgrade to junk status due to the recent downgrade of the bonds' surety provider.

Moody's last month dropped Ambac Assurance Corp., the surety provider on the bonds, to Ba3 from Baa1. The review only affects bonds issued by the New York City Industrial Development Agency in 2006 on behalf of Queens Ballpark Co. LLC and not the $82.3 million of bonds issued earlier this year to complete the ballpark because the latter issue has a surety provided by Assured Guaranty Corp., which Moody's rates Aa2. Moody's currently rates both series of stadium bonds Baa3.

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