Summary: Utah Housing Corp.; General Obligation; Single Family Whole Loan May 11
- ID: 1784506
- May 2011
- Region: Utah
- Standard & Poors
Standard & Poor's Ratings Services affirmed its 'AAA' long-term rating on Utah Housing Corp.'s (UHC) senior Class I bonds issued under its 2000 indenture. The outlook is stable. The rating reflects our view of: Extremely strong asset-to-liability parity ratios that exceed 118% on the senior Class I bonds, The very high credit quality of the single-family mortgage loans backing the bonds, High-quality investments, and Fully funded reserves. The 'AA' rating on UHC's mezzanine Class II bonds reflects our view of: Very strong asset-to-liability parity ratios that exceed 105% on the mezzanine Class II bonds, The very high credit quality of the single-family mortgage loans backing the bonds, High-quality investments, and Fully funded reserves. The 'AA-' rated subordinate Class III fixed-rate...
Companies mentioned in this report are:
- Utah Hsg Corp.
Action: Outlook: Stable
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included. SHOW LESS READ MORE >