Kentucky Housing Corp.; Single Family Whole Loan
Standard & Poors, April 2009
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Research Type: Full Analysis
Abstract
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
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