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Summary: New York St Dorm Auth; Housing, Multifamily FHA Insurance Nov 05 Product Image

Summary: New York St Dorm Auth; Housing, Multifamily FHA Insurance Nov 05

  • Published: November 2005
  • Region: New York
  • Standard & Poors


  • New York State Dorm Auth
  • MORE

The 'AAA' rating on New York State Dormitory Authority's FHA-insured mortgage nursing home revenue bonds (Wesley Health Care Center Inc.) series 1997 has been affirmed. The bonds are secured by a mortgage loan, which is insured under section 232 of the National Housing Act. The rating continues to reflect: The credit quality of the FHA insured mortgage loan collateral; An asset-to-liability position of 110.32% as of Sept. 30, 2005; Investments held pursuant to a guaranteed investment contract with Bayerische Landesbank and a U.S. Treasury Bill; and Sufficiency of assets and revenues to pay debt service and expenses. The bonds were issued to refund a portion of a prior series 1984A bond issue and pay the cost of issuance of this...

Companies mentioned in this report are:
- New York State Dorm Auth

Action: Affirmed

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, READ MORE >

- New York State Dorm Auth

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