SAN FRANCISCO — San Bernardino County, California’s fifth-most populous county, plans to refund $174.4 million of outstanding variable-rate demand obligations after it lost liquidity support for the debt and Moody’s Investors Service put its ratings on negative watch.

Helaba Landesbank Hessen-Thueringen terminated a standby bond purchase agreement for the weekly floaters on Sept. 30 after Standard & Poor’s downgraded the deal’s insurer, MBIA Insurance Corp., to below investment grade.

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