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Summary: California Municipal Finance Authority Intercontinental Affordable Housing Inc.; Section 8 Sep 11 Product Image

Summary: California Municipal Finance Authority Intercontinental Affordable Housing Inc.; Section 8 Sep 11

  • ID: 1927444
  • September 2011
  • Region: California
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'A-' long-term rating to the California Municipal Finance Authority's series 2011A multifamily housing revenue bonds issued on behalf of Intercontinental Affordable Housing Inc. (IAHI) for the Casa Griffin Apartments project. The outlook is stable. The rating reflects our view of: A first-mortgage lien and a pledge of all project revenues from the property to the bondholders; A pledge of revenue to the bondholders from a Department of Housing and Urban Development (HUD) Section 8 Housing Assistance Payment (HAP) contract through the term of the current contract, which expires Nov. 30, 2013, and the pledge to bondholders of anticipated renewal contracts with HUD under the Multifamily Assisted Housing and Reform Act of 1997 (MAHRA),...

Companies mentioned in this report are:
- Intercontinental Affordable Hsg, Inc
- California Municipal Finance Authority

Action: New Rating
Action: Outlook: Stable

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Note: Product cover images may vary from those shown

- Intercontinental Affordable Hsg, Inc
- California Municipal Finance Authority

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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