Texas State Affordable Housing Corp.; Affordable Housing
Standard & Poors, April 2011
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Research Type: Full Analysis
Abstract
Standard & Poor's Ratings Services assigned its 'A-(sf)' and 'BBB-(sf)' ratings to Texas State Affordable Housing Corp.'s (HDSA Texas Affordable Housing Pool Project) multifamily housing revenue bonds series 2011A and 2011B, respectively. The ratings reflect our opinion of: A first mortgage lien and pledge of all project revenues from the HDSA Texas Affordable Housing Pool Project; Projected debt service coverage of 1.38x and 1.20x for series 2011A and 2011B, respectively; Debt service reserve fund (DSRF) sized at six months' maximum debt service for both the series 2011A and 2012B bonds; Permitted investments and insurance with providers whose ratings are commensurate with the ratings of the bonds; Strength of many of the markets in which the properties are located; The strength...
Companies mentioned in this report are: American Opportunity Fndn,Texas St Affordable Hsg Corp
Action: New Rating
American Opportunity Fndn,Texas St Affordable Hsg Corp
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