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California Housing Finance Agency; Single Family Whole Loan Dec 09
Standard & Poors, Dec 2009
Abstract
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. The continued placement on negative CreditWatch of the long-term ratings on CalHFA's HMRBs is based on the placement of the ratings of the California Housing Loan Insurance Fund (BBB) on CreditWatch with negative implications on Oct. 27, 2009, as well as our assessment of the limited reliance on CalHFA's general fund to support the bonds. For more information, see the article titled 'California Housing Finance Agency; Single Family Whole Loan' published Nov. 2, 2009, on RatingsDirect. We also affirmed our various short-term ratings on all variable-rate bonds outstanding under...
Companies mentioned in this report are: California Hsg Fin Agy
Action: Downgraded
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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