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Kentucky Housing Corp.; Single Family Whole Loan
Standard & Poors, April 2009
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
Standard & Poor's Ratings Services assigned its 'AAA' rating to Kentucky Housing Corp.'s (KHC) series 2009 A series bonds. In addition, Standard & Poor's affirmed its 'AAA' on KHC's parity debt. The rating reflects: The high quality of the collateral supporting the bonds, which consists primarily of FHA-insured or VA-guaranteed single-family mortgage loans and some FHA-insured multifamily loans; A very strong ratio of assets to liabilities of more than 108%; A cash flow that has sufficient excess assets to absorb potential losses associated with its loan portfolio; and The high-quality investments held under the resolution. Bond proceeds will be used to fund single-family mortgage loans and pay bond issuance costs. The series 2009A bonds have a fixed rate with interest...
Companies mentioned in this report are: Kentucky Hsg Corp
Action: New Rating
Kentucky Hsg Corp