Fitch Rates Maryland CDA’s 2009 A Housing Revenue Bonds ‘AA ’; Assigns Stable Outlook

NEW YORK (August 28) - Fitch Ratings has assigned an ‘AA’ rating to the Maryland Community Development Administration’s $32.7 million residential revenue bonds, 2009 series A, citing “the current coverage levels within the portfolio, inclusion of a significant level of fully insured or guaranteed loans, strong reserves levels, as well as the administration’s successful management track record and established program-oversight abilities.” Moody’s assigned an ‘Aa2’ rating to the bonds, citing as strengths the portfolio’s solid asset to debt ratio and the fact that “management has been proactive at mitigating program risks.”