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Summary: Kentucky Housing Corp.; Single Family Whole Loan May 07 Product Image

Summary: Kentucky Housing Corp.; Single Family Whole Loan May 07

  • Published: May 2007
  • Region: Kentucky
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'AAA' rating to Kentucky Housing Corp.'s (KHC) series 2007G, H, and I housing revenue bonds and its 'AAA/A-1+' rating to the series 2007J bonds, reflecting: The high quality of the collateral supporting the bonds, consisting primarily of FHA-insured or VA-guaranteed single-family mortgage loans and some FHA-insured multifamily loans; The very strong ratio of assets to liabilities of more than 111%; Cash flow simulation, demonstrating sufficient excess assets to absorb potential losses in an 'AAA' depression scenario that would not be covered by primary mortgage insurance; and The high-quality investments held under the resolution. The 'A-1+' short-term component of the rating on the series 2007J variable-rate bonds reflects liquidity support for tenders in the...

Companies mentioned in this report are:
- Kentucky Hsg Corp

Action: Affirmed
Action: New Rating

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- Kentucky Hsg Corp

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