Hawaii Housing Community Development Corp's Single Family Mortgage Bond Rating Affirmed Dec 99

Standard & Poors, December 1999

Abstract
SAN FRANCISCO (Standard & Poor's CreditWire) Dec. 17, 1999-- Standard & Poor's today affirmed its double-`A' rating on Hawaii Housing Community Development Corp.'s $593.79 million single family mortgage bonds. The outlook is stable. The rating reflects: -- Improving asset quality; -- Reserves sufficient to cover potential credit and liquidity shortfalls; -- Continued cash flow performance; and -- A good investment portfolio. The indenture's mortgage portfolio at June 30, 1999, consisted of loans guaranteed for full and timely payment by Fannie Mae MBS (87%), with the remainder FHA-insured (7%) or conventionally insured (6%). Standard & Poor's anticipates a continued strengthening of the indenture's asset base as conventionally insured mortgages pay off and are replaced by triple-'A' eligible MBS purchased with proceeds...

Companies mentioned in this report are: Hawaii Hsg Comnty Dev Corp
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, 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.

Hawaii Hsg Comnty Dev Corp

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