April 10 Moody's Investors Service on Wednesday
placed state aid intercept program ratings in five states on
review, affecting $10.9 billion of debt.
The move was due to the credit rating agency's revised
methodology for state programs that enhance the ratings of
school districts and local governments by redirecting state aid
that would normally go to them to make debt service payments in
the event of a payment default, Moody's said in a statement.
Moody's said it placed on review with direction uncertain
the enhanced ratings on 723 school districts and local
governments that issued debt through programs in Arkansas,
Indiana, New York, Pennsylvania and Virginia.