Summary: Maine State Housing Authority; Multifamily Whole Loan; Other; Single Family Whole Loan Jul 12
- Language: English
- Published: July 2012
- Region: Maine
Standard & Poor's Ratings Services assigned its 'AA+' long-term rating to Maine State Housing Authority's (MSHA) mortgage purchase program series 2011C-1 and 2011C-2. At the same time, Standard & Poor's affirmed all of its other ratings in the parity resolution. The outlook is stable. The rating reflects our opinion of the: Very strong overall credit quality of the mortgage loan portfolio; Strong asset management oversight provided by MSHA in relation to its mortgage portfolio; and Very strong coverage of projected credit shortfalls through excess assets within the parity resolution. These strengths are somewhat offset by our opinion of the recent increases in nonperforming assets associated with the underlying mortgage collateral. MSHA will use bond proceeds to refund the previously issued...
Companies mentioned in this report are:
- Maine St Hsg Auth
Action: New Rating
Action: Outlook: Stable
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included. SHOW LESS READ MORE >