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Massachusetts Housing Finance Agency; Housing, Single Family Whole Loan Nov 05

  • ID: 1785523
  • November 2005
  • Region: Massachusetts
  • Standard & Poors
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  • Massachusetts Hsg Fin Agy
  • MORE

The ratings on Massachusetts Housing Finance Agency's (MassHousing) single-family housing program reflect: The credit quality of the single-family loan portfolio sufficient for the 'AA' rating, Cash flows indicating a significant strengthening of the indenture's equity position over time, Sufficiency of reserves to provide liquidity for delinquent mortgage loans, Fully funded loss coverage at the 'AA' level, Credit quality of investments under the resolution, and The agency's top-tier designation. The rating on the notes reflects the investment of note proceeds in investments commensurate with the note ratings. Note proceeds will not be used to originate mortgage loans under the resolution until the issuance of refunding bonds, which will provide permanent financing. If refunding bonds are not issued, proceeds from the investments...

Companies mentioned in this report are:
- Massachusetts Hsg Fin Agy

Action: New Rating

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

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- Massachusetts Hsg Fin Agy

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