Ongoing Federal Budget Deficits Could Put Public Housing Authority Capital Financing Programs In A Hole, Report Says May 11
- Language: English
- Published: May 2011
Standard & Poor's Ratings Services believes that ongoing federal budget deficits may significantly increase the appropriations risk to the Capital Fund Financing Program (CFFP) in future years. We have assessed the long-term credit implications of public housing authorities' CFFP's appropriations risk following the 2011 federal budget that was passed on April 15, 2011. The federal fiscal year 2011 appropriation provides funding through Sept. 30, 2011, for government projects and activities, including the Department of Housing and Urban Development's (HUD) public housing capital fund modernization program. The 2011 appropriation is $2.044 billion, an 18% decrease from the $2.5 billion appropriated for 2010. This marks the first time in the last five years that public housing modernization funding has been cut; it...
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
SHOW LESS READ MORE >