New York, January 25, 2016 -- Moody's Investors Service has downgraded the long-term rating to A1 from Aa2 and affirmed the short-term VMIG 1 rating of the letter of credit (LOC)-backed Village of East Rochester Housing Authority Variable Rate Demand Housing Revenue Bonds (Park Ridge Nursing Home, Inc. Project), Series 2008 (the Bonds) in connection with the substitution of the existing LOC supporting the Bonds provided by JPMorgan Chase Bank, N.A. with an LOC provided by Manufacturers and Traders Trust Company (the Bank) effective January 25,2016.

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