Moody's cuts Housing Financing

Moody's Investors Service said it downgraded the senior unsecured debt and issuer ratings of Iceland-based Housing Financing Fund to Ba1 stable from Baa3 negative.

Moody's said the action was triggered by the lowering of Housing Financing's baseline credit assessment to Caa1 from B2, and follows the Feb. 7 change in outlook for the government of Iceland (Baa3 senior) to stable from negative.

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