New York, July 24, 2014 -- Moody's Investors Service has downgraded the ratings on four pools of Qualified School Construction Bonds - Direct Subsidy (QSCBs) and three pools of Qualified Zone Academy Bonds - Direct Subsidy (QZABs) issued through the Pennsylvania State Public School Building Authority (SPSBA) to A1 from Aa3; the outlook on all of the ratings is stable. The pools all benefit from SPSBA's Current Year Intercept Program. These actions follow the downgrade to Aa3 from Aa2 of the Commonwealth of Pennsylvania's GO rating.
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