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Augusta Housing Authority, GA's Series 2004 Bonds Rating Raised To 'BB+' Aug 11
Standard & Poors, Aug 2011
Abstract
NEW YORK (Standard & Poor's) Aug. 22, 2011--Standard & Poor's Ratings Services raised its rating on Augusta Housing Authority, Ga.'s multifamily housing revenue bonds series 2004 to 'BB+' from 'BB'. The outlook is stable. 'The upgrade is based on our view of the project's reliance on short-term market rate investments,' said Standard & Poor's credit analyst Renee J. Berson. The rating reflects our view of the following: Revenues from mortgage debt service payments and investment earnings in our opinion are sufficient to pay full and timely debt service on the bonds plus fees in the near to medium term; Debt service coverage is projected to fall below investment grade levels beyond November 2034; and Asset/liability parity is projected to fall...
Companies mentioned in this report are: Augusta Hsg Auth
Action: Outlook: Stable
Action: Upgraded
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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