Realty Income, a real estate investment trust concentrated in low-risk retail and industrial real estate, was the funding recipient on the $675 million deal.
Litigants say $400 million in planned Port of South Louisiana bonds were not properly advertised. It's part of a wider challenge to industrial development plans.
Moody's Ratings cited a substantial fall in unrestricted liquidity for the two-notch downgrade. Moody's also placed the rating on review for another downgrade.
"It seemed to be a relief rally [Wednesday], and that's what everyone's hoping for. But fundamentally, they're still major issues that need to be addressed, but people seem to be giving that a pass," on Wednesday, said a source.
"I find this a very encouraging appointment," Peter Chan, a partner at law firm Baker McKenzie, said of Woodcock's appointment.
KBRA revised the outlook on the Chicago Transit Authority's Series 2015 and 2016 Transportation Infrastructure Finance and Innovation Act loans to stable.
