• SELECT SITE CURRENCY
Select a currency for use throughout the site
Summary: Vallejo Housing Authority, California; FNMA Collateral Agreement May 11
Standard & Poors, May 2011
Standard & Poor's Ratings Services affirmed its 'AAA/A-1+' rating on Vallejo Housing Authority, Calif.'s (Fountain Hills Plaza) variable-rate demand bonds series 1992A. The outlook is negative. The bonds are backed by a mortgage loan that is secured by a Fannie Mae collateral agreement. The 'AAA' long-term component of the rating reflects our opinion of the likelihood bondholders will receive payments of debt service. The 'A-1+' short-term component of the rating reflects our opinion of the likelihood of payment for ongoing optional and mandatory tenders. Other rating factors include our opinion of: The extremely high credit quality of the Fannie Mae collateral agreement, which we consider to be 'AAA' eligible; The sufficiency of revenues from mortgage debt service payments and investment...
Companies mentioned in this report are: Vallejo Hsg Auth
Action: Outlook: Negative
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.
Vallejo Hsg Auth