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
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