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California Hsg Fin Agy's 'AA-' HMRB Bond Ratings Affirmed, Remain On CreditWatch With Negative Implications Dec 09
Standard & Poors, Dec 2009
Abstract
SAN FRANCISCO (Standard & Poor's) Dec. 11, 2009-- Standard & Poor's Ratings Services affirmed its 'AA-' long-term ratings on all of California Housing Finance Agency's (CalHFA) home mortgage revenue bonds (HMRBs). The ratings remain on CreditWatch with negative implications. Standard & Poor's also affirmed its various short-term ratings on all variable-rate bonds outstanding under CalHFA's HMRB indenture based on the existing standby bond purchase agreements (SBPAs) that currently provide liquidity support for the bonds. 'The continued placement of CalHFA's HMRB long-term ratings on CreditWatch with negative implications is based on the Oct. 27, 2009, placement of the California Housing Loan Insurance Fund's (BBB) ratings on CreditWatch with negative implications,' said Standard & Poor's credit analyst Karen Fitzgerald. 'The CreditWatch listing...
Companies mentioned in this report are: California Hsg Fin Agy
Action: Affirmed
Action: On CreditWatch: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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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