Moody's Investors Service on Tuesday assigned a Baa1 rating and stable outlook ahead of plans by the California Municipal Finance Authority to act as conduit issuer on $44 million in revenue bonds to fund the South Central Los Angeles Regional Center for Persons with Developmental Disabilities, Inc. project.

The bonds expected to price April 17 will be issued by Community Impact Development II through the CMFA to finance the purchase and construction of office facilities for lease by Community Impact Development II to SCLARC, according to Moody's. The bonds will also finance capitalized interest through a portion of 2015 and fund a debt service reserve for the bonds.

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.