WASHINGTON -- The lawsuit over the Richmond Unified School District's defaulted certificates of participation should not affect most other lease issues in California because the case is likely to focus on the constitutionality of the Richmond financing only, Moody's Investors Service said yesterday.

The rating agency's upbeat assessment of the implications of the investor lawsuit for the nation's largest leasing market comes one week after Standard & Poor's Corp. warned that it could have both broad and adverse consequences for lease financings there.

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