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Carbondale Housing Corp., PA Series 1978A Rating Outlook Revised To Positive On Consistent Sound Operating Performance Oct 11
Standard & Poors, Oct 2011
Abstract
NEW YORK (Standard & Poor's) Oct.6, 2011--Standard & Poor's Ratings Services revised the outlook on its rating on Carbondale Housing Corp., Pa.'s (Summit Garden Apartments Project) Section 8-assisted multifamily housing bonds series 1978A to positive from stable. At the same time, Standard & Poor's affirmed its 'BBB-' long-term rating on the bonds. 'The positive outlook reflects our view of the consistent sound operating performance of the property over the years,' said Standard & Poor's credit analyst Stephanie Morgan. The rating reflects our opinion of the following strengths: Increase in debt service coverage to 1.22x maximum annual debt service (MADS) as per audited financial statements for the fiscal year ended Dec. 31, 2010; Recent rental increase received by the project in...
Companies mentioned in this report are: Carbondale Hsg Corp
Action: Affirmed
Action: Outlook: Positive
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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