Standard & Poor's Ratings Services assigned its 'AA+/A-1+' rating, with a negative outlook, to California Statewide Communities Development Authority's (Market Park Partners LP) affordable multifamily housing revenue bonds series 2009A-18, issued on behalf of Market Park Apartments, a multifamily rental housing development located in Inglewood, Calif. The rating is based on the delivery of a direct-pay credit enhancement agreement provided by Freddie Mac (AA+/A-1+). The rating also reflects the sovereign rating on the United States (AA+/Negative). Should the sovereign rating on the United States be upgraded to 'AAA' and the bond program meet all criteria commensurate with an 'AAA' rating, the rating on the bonds will be upgraded. The outlook is negative. The series 2009A-18 bonds are a subset of...
Companies mentioned in this report are:
- Market Park Partners, LP
- California Statewide Communities Dev Auth
Action: New Rating
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