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

  • ID: 1952477
  • November 2005
  • Region: New York
  • Standard & Poors
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Abstract
The 'AAA' rating on New York State Dormitory Authority's FHA-insured mortgage nursing home revenue bonds (Eger Health Care Center of Staten Island) series 1998 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 102.14% 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 are secured by a mortgage loan, which is insured by FHA under section 232 of the National Housing Act....

Companies mentioned in this report are:
- Dorm Auth of the St of New York

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 READ MORE >

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- Dorm Auth of the St of New York

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