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AMBAC GIC/Investment Agreement-Backed Housing Issues Off Watch Neg; Outlook Negative Mar 08
Standard & Poors, March 2008
Abstract
NEW YORK (Standard & Poor's) March 18, 2008--Standard & Poor's Ratings Services removed its ratings on 19 housing bond issues listed below from CreditWatch with negative implications where they were placed on Jan. 24, 2008. This action follows Standard & Poor's removal of AMBAC Assurance Corp., the guaranteed investment contract or investment agreement provider, from CreditWatch with negative implications on March 12, 2008. All of the affected issues now have negative outlooks reflecting the outlook of AMBAC Assurance Corp. Issue Description Rating Athens Housing Authority, GA, multifamily housing revenue bonds (Bethel Church Homes Apts Project) series 2001 AAA Atlanta Housing Authority, GA, multifamily mortgage revenue bonds (Ginnie Mae Collateralized - Village at Castleberry Hill Project) series 1999 AAA Bountiful, UT,...
Companies mentioned in this report are: Athens Hsg Auth,San Francisco City & Cnty Redev Agy,New York State Dorm Auth,Illinois Hsg Dev Auth,Chicago,Florida Hsg Fin Corp,Palm Beach Cnty Hsg Fin Auth,Miami Dade Cnty Hsg Fin Auth ,Nevada Hsg Div,St Louis Cnty Indl Dev Auth,Bountiful,St Johns Cnty Hsg Fin Auth,Atlanta Hsg Auth,Ambac Assurance Corp.,Raleigh Housing Authority,Hillsborough Cnty Hsg Fin Auth,Hawaii Hsg Comnty Dev Corp
Action: Outlook: Negative
Action: Removed From CreditWatch
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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