CUSIP 752123JH3
- ISIN: US752123JH34
- Entity Name: Rancho Cucamonga Redevelopment Agency
- Sector: Municipal Agency
- Announcement Date: 15-Feb-2018
- Effective Date: 17-Jan-2018
- Issue Date: *****
- Maturity Date: 01-Sep-2031
- Country of Issuer: United States
- Region: N.Amer
- Issue Currency: United States of America Dollars
- CA Type: Rating Downgrade
- News: This Notice of Occurrence of Listed Event (Notice) has been prepared to satisfy the obligations of the Successor Agency to the Rancho Cucamonga Redevelopment Agency (the Successor Agency), pursuant to Section 5 of that certain Continuing Disclosure Certificate, dated December 5, 2007 (the Disclosure Certificate), executed by the Rancho Cucamonga Redevelopment Agency, in connection with the execution and delivery of the $82,315,000 Rancho Redevelopment Project Housing Set-Aside Tax Allocation Bonds, Taxable Series 2007B (the Bonds) and the requirements of Rule 15c2-12 of the Securities Exchange Act of 1934, as amended. The following information is being provided as required by the Disclosure Certificate in order to comply with the Successor Agencys obligations to notify owners of the Bonds, the participating underwriters, and the Repository of the occurrence of a Listed Event. At issuance, the Bonds were insured by MBIA Insurance Corporation (which was reinsured by National Public Finance Guarantee Corporation (NPFGC)). On December 5, 2017, Kroll Bond Rating Agency downgraded its insurance financial strength rating on NPFGC from AA+ to AA and subsequently withdrew the rating citing business reasons. On January 17, 2018, Moodys Investors Service (Moodys) downgraded its insurance financial strength rating on NPFGC from A3 to Baa2. As a result of the foregoing, Moodys downgraded its Insured Rating on the Bonds from A3 to Baa2. Information from the rating agencies regarding the ratings actions may be obtained from such rating agencies. This Notice may contain information material to bond owners and does not purport to contain all material information with respect to the Bonds or the financial condition of the Successor Agency. The information contained in the Notice is not guaranteed as to accuracy or completeness. For Bond Document please visit www.BondPDF.com
- Description: Municipal Name: Rancho Cucamonga Redevelopment Agency CUSIP: 752123JH3 Currency: USD Rancho Cucamonga Redevelopment Agency announced today that the Moody’s Investors Service has downgraded the insured ratings of the Series 2007B, Housing Set-Aside Tax Allocation Bonds from A3 to Baa2 on January 17, 2018.
- Bond Document: https://www.bondpdf.com/
- Latest Corporate Actions: https://www.CAalerts.com/credit-corporate-action/ISIN/US752123JH34
