Moody's Investors Service has upgraded the ratings of the New Orleans Finance Authority, LA Qualified Mortgage Revenue Bonds 2006A to Aaa from A2. Approximately $4.1 million in debt is affected.
The upgrade to Aaa is based on the upgrade of the Guaranteed Investment Contract ("GIC") Provider Bayersiche Landesbank to A1/P-1 Stable. The A1/P-1 rating on the counterparty can support up to a Aaa on the bond program.
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