Contra Costa Health Officer said he expects Contra Costa County to remain in the Purple Tier for the next two to three weeks before moving into the less restrictive Red Tier. 

By Daniel Borsuk

The old saying “there’s nothing like good old competition” can apply when Contra Costa County Supervisor Federal Glover on Tuesday questioned county health officials if an announcement a day earlier that the state and health care giant Blue Shield of California will jointly launch a statewide COVID-19 vaccine registration system that will compete against county sponsored vaccine registration systems like Contra Costa’s My Turn.

Glover, who represents the East County communities of Pittsburg and Antioch, with high numbers of underserved black and Latino constituents, asked Contra Costa County Health Officer Dr. Chris Farnitano if the new statewide vaccination system will benefit or hinder the County’s efforts.

“Our scheduling system will still be in place,” Farnitano responded.  Furthermore, the health officer said that the county’s scheduling and testing capabilities will not be jeopardized.

The new central site sign-up system Blue Shield of California will operate on behalf of the state aims to make obtaining vaccination appointments more efficient and straight forward.  In addition, when the state is ready to expand vaccination eligibility to the next population category for doses, every county in the state will have to follow suite at the same time.  This takes the decision-making out of the hands of county health officials and into the hands of State or Blue Shield of California health officials.

Health care workers, long-term care residents aged 65 and older and employees working in agriculture and food, education and child care, and emergency services are currently eligible to receive a vaccine in California.  Beginning March 15, residents between 16 and 64 years old with severe health ailments, including cancer or heart conditions, and those with developmental or high-risk disabilities will also be eligible for vaccination.

Board Chair Dianne Burgis of Brentwood said that she has received inquiries from constituents if they can select the vaccine to be given when it is their turn at the clinic.

“They are all great vaccines,” answered Farnitano. “With all the vaccines in short supply, we get what is available.”

In the meantime, Farniton said he expects Contra Costa County to remain in the Purple Tier for the next two to three weeks before moving into the less restrictive Red Tier.

Farnitano also said Contra Costa County’s exposure to any COVID-19 variants is “not of concern.”  He said there have been no reports of the United Kingdom or South Africa variants in the County.

“Even though we are seeing a lot of good news, we are not out of the woods yet.  Up until now we’re winning the race, but we cannot let down our guard too fast.  Continue to wear masks, wash your hands and social distance,” he said.

District 1 Supervisor John Gioia of Richmond said 86 percent of Contra Costa residents age 75 and over have at least had their first dose

The County Health Director said through the County Health Department, the Contra Costa County Office of Education and School Districts, 25,000 doses of vaccine are dedicated to educators as schools ramp up to reopen.

“More teachers are getting vaccinated,” Farnitano stated.

Supervisors Flash Green Light for Danville Roundabout

Supervisors gave county Public Works officials the green light to start the eminent domain process to change an accident-prone intersection in Danville into a traffic roundabout designed to reduce car speeds and improve pedestrian crossings at Danville Boulevard and Orchard Court.

The County project will include curb extensions, curb ramps and entry medians at the roundabout to cut down on vehicle speeds and improve pedestrian crossings.  Sidewalks will be reconstructed along with curb extensions and curb ramps in order to comply with the Americans with Disabilities Act requirements.

The intersection has one of the highest collision rates in the state.  It is 2.5 times higher than the state average.  Over the last 10 years there were at least 13 bicycle and three pedestrian collisions.

Ann E. Elliott Appointed Director of Human Resources

From a field of 62 applicants and seven semi-finalists, Supervisors unanimously selected acting Director of Human Resources Ann E. Elliot to the full-time position at an annual salary of $240,000 and a $57,000 pension per year.  The appointment became effective March 1.

Elliot has served as Interim Director of Human Resources since Sept. 30, 2020 when former Director of Human Resources Dianne Dinsmore retired.

Elliot started her career at the Contra Costa County Human Resources Department in 2015 and has developed a reputation of having an understanding of the responsibilities of Human Resources Management and the value Human resources can contribute to an employer.

Through the recruitment firm Peckham & McKenney, 62 applications were received and seven semi-finalists were forwarded to the County Interview Panel on Dec. 1, 2020 and interviewed on Dec. 9, 2020.  The County Interview Panel consisted of Joe Angelo, Alameda County Human Resources Director; Timothy Ewell, Contra Costa County Chief Assistant County Administrator; Lisa Driscoll, Contra Costa County Finance Director; and Kathy Ito, President of KMI Human Resources Consulting, Inc.

After the interviews, County Administrator Monica Nino recommended Elliot’s appointment.

Elliott is a graduate from Indiana Wesleyan University with as Master of Science, Management degree and from Cedarville University with a Bachelor of Arts, Behavioral Science and Psychology.

Approve $17.6 Million in 2020-2021 Property Tax Administration Charges

Facing no citizen comments, Supervisors unanimously approved the 2020-2021 Property Tax Administration Charges with net costs totaling $17,599,506.  That amounts to about .56 percent of all 2019-2020 property taxes levied countywide.

“The County absorbs the schools’ share, which amounts to $8,436,409,” according to the county staff report on the item. “School districts, community college districts and the County Office of Education are exempt from the provision, authorizing county recovery of their proportionate share of property tax administrative costs.”

 

By Timothy Leong, Public Information Officer, 4CD

On November 10, 2020, the Contra Costa Community College District (District) sold $110 million of new Measure E bonds and refinanced $35 million of previously sold general obligation bonds originally issued in 2014 following voter approval of 57.58%.  Due in part to favorable Moody’s and S&P ratings, the refinancing collectively saves Contra Costa County property owners over $1.7 million through 2040, and savings will be passed on in the form of lower property taxes. Voters will see this change reflected in their 2020-21 property tax bills, with annual total savings for our taxpayers of over $150,000.

The new Brentwood Center and new Kinesiology and Student Union Complex at the LMC-Pittsburg campus were the first major District projects completed using Measure E funds. The $110 million sale of new Measure E bonds will help continue the transformation of additional facilities at District sites. These projects include the new Science Center and renovation of the PE/Kinesiology Complex at Contra Costa College, the Arts Complex and PE/Kinesiology Complex at Diablo Valley College (DVC)-Pleasant Hill Campus, and the new Library and Learning Center at the DVC-San Ramon Campus.

“This is the fourth time the District has refinanced previously sold bonds to reduce debt service for our taxpayers,” said Chancellor Bryan Reece. “We will continue to focus on our fiduciary responsibility of managing public funds and want to thank Contra Costa County voters for allowing us to make these critical investments in the community.”

The sales and refinancing transactions were handled by Morgan Stanley.  KNN Public Finance was the District’s financial advisor, and Orrick Herrington & Sutcliffe performed as bond counsel.

The Contra Costa Community College District (District) is one of the largest multi-college community college districts in California. The District serves a population of 1,019,640 people, and its boundaries encompass all but 48 of the 734-square-mile land area of Contra Costa County. The District is home to Contra Costa College in San Pablo, Diablo Valley College in Pleasant Hill, Los Medanos College in Pittsburg, as well as educational centers in Brentwood and San Ramon.  The District headquarters is located in downtown Martinez.

 

By Jimmy Lee, Director of Public Affairs, Contra Costa County Office of the Sheriff

Contra Costa County Sheriff David Livingston is pleased to announce the promotion of Captain Melissa Klawuhn to the rank of Assistant Sheriff effective February 27, 2021.

Captain Klawuhn joined the Office of the Sheriff in 2001 as a Laboratory Aide in the Forensic Services Division. In 2003, she was promoted to Deputy Sheriff Criminalist and attended the police basic academy. The next year she transferred to the classification of Deputy Sheriff and had assignments in custody service, patrol and investigation. During that time she served as a Bay Point resident deputy and homicide detective. Captain Klawuhn was promoted to the rank of sergeant in 2013, to lieutenant in 2016 and captain in 2019. Captain Klawuhn previously served as a team leader of the Hostage Negotiation Team and the commander of the SWAT Team.

Before joining the Sheriff’s Office, Captain Klawuhn, who has a degree in animal science, was a high school chemistry teacher.

“The Office of the Sheriff values our community partnerships and diversity, and I am honored to transition into this new leadership role,” said Captain Klawuhn.

In her new role, Captain Klawuhn will be one of four Assistant Sheriffs in the organization. She will oversee the Administrative Services Bureau. This includes personnel, finance, professional standards, recruitment, and training.

“It is my privilege to promote Captain Klawuhn,” said Sheriff David Livingston. “She has handled numerous high profile and critical assignments as she climbed the ranks in the department. She has shown outstanding dedication and leadership and made many contributions to the department and community. I thank her for taking on new responsibilities as we serve the community and guide the department into the future. Congratulations to Captain Klawuhn.”

For redevelopment of former administration building site, build fire stations and fund new airport terminal; savings of $7.3 million also generated from refunding existing bonds

By Susan Shiu, Director, Office of Communications and Media, Contra Costa County

Thursday morning, Feb. 25, 2021, Contra Costa County sold $97,420,000 of lease revenue bonds with Barclay’s Capital Inc. serving as underwriter. Proceeds from the bond sale will fund infrastructure projects including redevelopment of the former County Administration Center complex in Martinez, a portion of a new Aircraft Terminal at the Buchanan Field Airport in Concord and construction of two fire stations in Pacheco and Bay Point.

In addition, the County refunded $48.4 million of outstanding bonds resulting in significant savings to the County.

The bonds funding the new construction projects have a true interest cost of 2.27% with a term of 20 years. The refunding bonds have a true interest cost of 1.80% and shortens the term of the previous bonds by two years, from 19 years to 17 years. The refunding bonds resulted in a net present value savings to the County of $7.3 million.

“The results from today’s bond sale are proof of the County’s reputation of strong financial management within the municipal market,” said Chair of the Board of Supervisors Diane Burgis. “This allows the County to secure financing for important public infrastructure projects at very attractive rates to better serve our residents.”

According to the California State Treasurer, lease revenue bonds (LRBs) are a type of revenue bond. Lease revenue bonds usually finance the construction of facilities, including government office buildings, correction facilities, courthouses, and fire facilities. However, unlike revenue bonds that use money generated by the project (a bridge toll) to repay investors, lease revenue bonds have a lessee (government agency) that pays rent to use the facility. The rent payments are used to pay back investors who purchased the bonds used to finance the construction of the facility. LRBs are secured by lease payments made by the party leasing the facility (school or office building) that was funded by the bond issue.

“Historically low interest rates and the County’s strong credit profile have allowed us to advance critical projects and refund existing debt for cost savings,” stated County Administrator Monica Nino.

Contra Costa County has been rated “AAA” by Standard and Poor’s since 2012 and, most recently, was upgraded by Moody’s Investor Service to “Aa1” from “Aa2” on February 16, 2021. Both credit rating agencies have attributed their high ratings for Contra Costa County to strong financial management, with policies and practices well-embedded in County operations. They have also pointed to a strong local economy with a large, diverse tax base.

By Allen Payton

Contra Costa County District Attorney Diana Becton issued a statement regarding Thursday’s California Supreme Court decision to uphold the constitutionality of Senate Bill 1391 (Lara).

Proposition 57, passed in the November 2016 general election, requires prosecutors to commence all cases involving a minor in juvenile court. Senate Bill No. 1391 enacted in 2018, amended Proposition 57 to prohibit minors under the age of 16 from being transferred to adult criminal court.

In the case of O.G. v. The Superior Court of Ventura County, the Court of Appeal held that Senate Bill 1391 is inconsistent with Proposition 57 and thus invalid. The state Supreme Court overruled the lower court’s decision.

“We agree with the majority view that Senate Bill 1391 was a permissible amendment to Proposition 57 and we reverse the judgment in this case,” the decision reads.

“Today’s unanimous decision by the Supreme Court is an important moment for the criminal justice system to give children a chance at rehabilitation for crimes they committed during their youth,” said Becton. “I have always believed this law was constitutional and should be followed. Our local judges in Contra Costa County have also agreed with me.”

“The juvenile justice system currently is not working,” she continued. “I established a task force to examine how to reform our juvenile justice system. We must think differently on how we treat children and ensure we strategically allocate resources to focus on prevention and rehabilitation efforts.”

The full Supreme Court decision is available here.

Scott Alonso, PIO, CCCDA contributed to this report.

Prospects High School champion also made the finals of the competition

The Arts and Culture Commission announced the winners of the 2021 Poetry Out Loud Contra Costa County and Esmeralda Noyola, the Deer Valley High School champion, won second place in the final competition and was awarded a $150 cash prize. The Facebook Live Virtual Screening and Awards Ceremony was held on February 11th. Her performance was of the poem We Are Not Responsible by Harryette Mullen. (See her introduction and performance at the 23:50 mark of the video)

Jermaine Gitana from Pinole Valley High School was selected the champion of the county finals and awarded a $200 prize and varsity jacket.

“I am a 17-year-old senior at Pinole Valley High who is part Black and Filipino,” said Gitana. “I enjoy playing instruments, making music, swimming, singing, and most of all reciting poetry.”

His performances of the poems Written By Himself by Gregory Pardlo and Piano by D. H. Lawrence proved to be a winning combination! On March 11th, Jermaine will compete in the Poetry Out Loud State Finals where students recite 3 poems. On March 12th, the California State Winner will be announced on California Arts Council email, internet, and social media. We are very proud of Jermaine!

Tessa Brubaker from San Ramon Valley High School placed third and was awarded $100. The County Finals included impressive high school champions Patricia May Villanueva of Prospects High School (Antioch), Michael Miralles of John Henry High School (Richmond), Kyla Erika Nano of Concord High School, and Kaleigh Thurman of College Park High School (Pleasant Hill).

Poetry Out Loud is a national arts education program that encourages the study of poetry by offering free educational materials and a dynamic recitation competition for high school students across the country. This program helps students master public speaking skills, build self-confidence, and learn about literary history and contemporary life. Poetry Out Loud provides free curriculum materials—all available online—including a poetry anthology, a comprehensive teacher’s guide, videos of student performances, lesson plans, and promotional and media resources.

All Contra Costa County high school students, grades 9-12, are invited to enter Poetry Out Loud. School winners advance to the County competition each February, then the State competition on March 11, and ultimately to the National Finals. The 2021 POL National Semifinals will take place on Sunday, May 2nd and the 2021 POL National Finals will take place on Thursday, May 27th and will be held virtually in lieu of holding them on-site in Washington D.C. as previously planned. Both will be video submission-based competitions and will be streamed on arts.gov.

Every high school in the county (public, private, parochial, independent, alternative, continuation, court, charter and home schools), non-profit organizations, and libraries are encouraged to participate. Students don’t enter the POL competition directly, but through their high schools or a school POL liaison such as a teacher, librarian, school staff, or organization member.

“Last August, I became the new Managing Director and was first introduced to the amazing Poetry Out Loud program. Our incredible team of Donté Clark (Poetry Out Loud Coordinator), Brennan DeFrisco (Poetry Out Loud Student Coach and Assistant Coordinator), and Antonio Tamayo (Poetry Out Loud Digital Content and Technical Assistant) worked together to transition the program online,” said Jenny Balisle, Arts and Culture Commission of Contra Costa County Managing Director. “The Virtual Screening and Awards Ceremony was an evening of many firsts for the Arts and Culture Commission: first Facebook Live event for a signature art program, first ASL interpreters for a live virtual event, and first Land Acknowledgement. Despite the pandemic, we were determined to uplift, support, and celebrate Contra Costa County youth! I’m proud of what we accomplished but most of all- very proud of the resilience and grace of our youth.”

To watch the Virtual Screening and Awards Ceremony please visit here.

Poetry Out Loud is funded by the National Endowment for the Arts, Poetry Foundation, California Arts Council, and Arts and Culture Commission of Contra Costa County (AC5).

AC5 is dedicated to advancing the arts in a way that promotes communication, education, appreciation and collaboration throughout Contra Costa County so that we may grow creatively as a community that preserves and celebrates our diverse cultural expression.

Please visit www.ac5.org for more information and sign up on our email list. We welcome your participation and hope to see you next year!

Allen Payton contributed to this report.

Teachers, grocery workers and other frontline essential workers who live in Contra Costa County can now sign up to receive safe, effective COVID-19 vaccine at no cost to them.

Contra Costa Health Services (CCHS) today updated its eligibility policy for COVID-19 vaccine to extend vaccination eligibility to residents who work in the education and childcare sector, food and agriculture workers, and emergency services workers as defined by Phase 1B of California’s vaccination plan.

“We are committed to protecting all of our educators by ensuring they can access the COVID-19 vaccine,” said Diane Burgis, chair of the Contra Costa Board of Supervisors. “It is critical that we prioritize the health and well-being of all the essential workers who have cared for us and our families throughout the pandemic.”

Residents in these groups, as well as county residents who are 65 years and older who have not yet been vaccinated, can sign up to access state and federal sites through MyTurn (myturn.ca.gov) or by calling 1-833-422-4255.

Essential workers and residents 65 years and older can also request immunization appointments through CCHS and join the county waiting list for COVID-19 vaccine. However, due to a temporary reduction in vaccine supply from the state, all appointments at county sites are filled through the next two weeks at least.

People who need to cancel an existing appointment or who received a first dose of vaccine through CCHS and need to make a second-dose appointment should call 1-833-829-2626.

When more appointments do become available, CCHS will continue to prioritize county residents who are 65 or older as well as eligible essential workers, particularly those who live or work in the local communities most heavily affected by the pandemic.

CCHS continues to move forward with a workplace-based outreach effort to immunize essential workers in high-risk jobs in the county’s hardest-hit communities, including food and agriculture workers. Workers at sites selected for the program will be contacted by their employers.

For more information about Contra Costa’s response to the COVID-19 pandemic including information about COVID-19 vaccine eligibility and appointments, visit cchealth.org/coronavirus.

 

Also upgrades LRBs’ to Aa2 and POBs to Aa3; assigned Aa2 to 2021 LRBs; outlook is stable

By Susan Shiu, Contra Costa County Office of Communications & Media

On Tuesday, February 16, 2021, Moody’s Investors Service upgraded the Issuer Rating, an indicator of general creditworthiness, of Contra Costa County from “Aa2” to “Aa1”. In its press release, Moody’s cites the County’s “…strong and sustained financial position supported by robust reserves and liquidity.” On Moody’s credit scale, “Aa1” is just one notch below the coveted “Aaa” credit rating.

The rating upgrade is especially complementary of the County’s efforts since Moody’s has placed the U.S. Local Government sector, as a whole, on negative outlook due to the coronavirus pandemic. The upgrade comes in advance of the County’s planned issuance of lease revenue bonds for the construction of an aviation terminal, fire stations, and a new office complex. In addition, the County will be refunding existing bonds for an estimated net present value savings of $7.8 million, or 16.2%.

Board of Supervisors Chair Diane Burgis (District 3) commented that “The upgrade from Moody’s is a testament to the strong financial management practices that have become a tradition in Contra Costa County.”

County Administrator Monica Nino stated that “Contra Costa County has been a leader throughout the State in prudent financial and budget management, and we plan to continue that into the future.”

Complete Press Release

New York, February 16, 2021 — Moody’s Investors Service has upgraded Contra Costa County’s (CA) issuer rating to Aa1 from Aa2, lease revenue bond rating to Aa2 from Aa3 and pension obligation bond rating to Aa3 from A1. The amount of debt affected is $232.4 million and $85.7 million, respectively. We also assigned a Aa2 rating to the Contra Costa County Public Financing Authority’s $62.4 million Lease Revenue Bonds (Capital Projects and Refunding) 2021 Series A (Capital Projects) and $37.2 million 2021 Series B (Refunding). The outlook is stable.

RATINGS RATIONALE

The upgrade to Aa1 incorporates the county’s strong and sustained financial position supported by robust reserves and liquidity. The Aa1 rating incorporates the county’s large and diverse tax base poised for ongoing solid growth, residents’ favorable income levels and moderate long-term liabilities. The rating also factors the recent increased general fund subsidy for the county’s hospital enterprise because of higher operating costs unrelated to the pandemic. The subsidy will remain manageable when compared to the county’s operating revenue. In addition, the county will benefit from a recently approved sales tax measure that expires in March 2041. These funds can be used to support general operations, providing additional financial flexibility. The county’s strong governance, as demonstrated by management’s prudent fiscal practices and adopted policies, is also factored into the rating.

The Aa2 ratings on the county’s lease revenue bonds are one notch lower than the county’s Aa1 issuer rating, reflecting both the absence of California GO (General Obligation) bond security features, which provide uplift to the GO rating, and the weaker legal structure of standard abatement leases, despite the “more essential” nature of the pledged asset, which is the Contra Costa Regional Medical Center.

The legal provisions for the Lease Revenue Bonds, 2021 Series A and 2021 Series B include that the city will provide rental interruption insurance for 24 months, title insurance, and will not require a debt service reserve fund, which is a negative credit factor. This negative credit factor is mitigated by the county having earthquake insurance that covers the pledged asset, a protective feature that is rare for California abatement leases. The county is not legally obligated to have earthquake insurance, however management expects to renew its policy when it expires next month.

The Aa3 rating on the county’s pension obligations bonds is two notches lower than the county’s issuer rating, reflecting the lack of strong legal features of California GO Bonds. The notching also reflects the relatively poor performance of POBs in Chapter 9 bankruptcies compared to other types of municipal obligations. The POBs are unsecured debt paid by general operating revenues.

RATING OUTLOOK

The stable outlook reflects our expectation that the county will maintain a strong financial position supported by management’s prudent fiscal practices. In addition, we expect that the county will continue to navigate through the economic, operational and financial challenges caused by the coronavirus without materially impacting its long-term credit quality.

FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATINGS

– Improved income and wealth levels

– Material reduction in long-term liabilities and fixed costs

FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATINGS

– Sizeable reduction in reserves and liquidity

– Material increase in long-term liabilities and fixed costs

LEGAL SECURITY

The issuer rating is equivalent to what would be the county’s general obligation bond rating. In California, GO bonds are secured by the levy of ad valorem taxes, unlimited as to rate or amount, upon all taxable property within the county.

The lease revenue bonds are secured by lease payments made by the county for use and occupancy of various leased assets which we view “more essential”. Lease rental payments are payable from any source of legally available funds of the county.

The county’s obligation to make all POB payments of interest and principal are imposed by law and are absolute and unconditional. The POBs are payable from any source of legally available funds of the county, including the county’s general fund.

USE OF PROCEEDS 2021

Series A bonds will finance improvements at the county’s Buchanan Field Airport, the construction of two fire stations and a new county office building. 2021 Series B will refund outstanding lease revenue bonds for savings and there is no extension in maturity.

PROFILE

Contra Costa County is located in the eastern portion of the San Francisco Bay Area, just east of Berkeley and Oakland in northern California. The county seat of Martinez is approximately 24 miles northeast of downtown San Francisco. The county has a population of 1.1 million and the largest industry sectors that drive the local economy are health services, retail trade, and professional/scientific/technical services.

METHODOLOGY

The principal methodology used in the issuer rating was US Local Government General Obligation Debt published in January 2021 and available at https://www.moodys.com/researchdocumentcontentpage.aspx? docid=PBM_1260094. The principal methodology used in the lease and pension obligation bond ratings was Lease, Appropriation, Moral Obligation and Comparable Debt of US State and Local Governments published in January 2021 and available at https://www.moodys.com/researchdocumentcontentpage.aspx? docid=PBM_1260202. Alternatively, please see the Rating Methodologies page on www.moodys.com for a copy of these methodologies.

REGULATORY DISCLOSURES

For further specification of Moody’s key rating assumptions and sensitivity analysis, see the sections Methodology Assumptions and Sensitivity to Assumptions in the disclosure form. Moody’s Rating Symbols and Definitions can be found at: https://www.moodys.com/researchdocumentcontentpage.aspx? docid=PBC_79004.

For ratings issued on a program, series, category/class of debt or security this announcement provides certain regulatory disclosures in relation to each rating of a subsequently issued bond or note of the same series, category/class of debt, security or pursuant to a program for which the ratings are derived exclusively from existing ratings in accordance with Moody’s rating practices. For ratings issued on a support provider, this announcement provides certain regulatory disclosures in relation to the credit rating action on the support provider and in relation to each particular credit rating action for securities that derive their credit ratings from the support provider’s credit rating. For provisional ratings, this announcement provides certain regulatory disclosures in relation to the provisional rating assigned, and in relation to a definitive rating that may be assigned subsequent to the final issuance of the debt, in each case where the transaction structure and terms have not changed prior to the assignment of the definitive rating in a manner that would have affected the rating. For further information please see the ratings tab on the issuer/entity page for the respective issuer on www.moodys.com.

Regulatory disclosures contained in this press release apply to the credit rating and, if applicable, the related rating outlook or rating review.

Moody’s general principles for assessing environmental, social and governance (ESG) risks in our credit analysis can be found at https://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_1243406.

Please see www.moodys.com for any updates on changes to the lead rating analyst and to the Moody’s legal entity that has issued the rating.

Please see the ratings tab on the issuer/entity page on www.moodys.com for additional regulatory disclosures for each credit rating.