- Language: English
- 96 Pages
- Published: March 2012
- Region: United Kingdom
Summary: Illinois Housing Development Authority; Multifamily GNMA Nov 11
- Published: November 2011
- Standard & Poors
Standard & Poor's Ratings Services reinstated its 'AA+' long-term rating on Illinois Housing Development Authority's (Ginnie Mae collateralized-Lifelink Development Project) multifamily housing revenue series 2006 bonds. The outlook is negative. The rating reflects our view of the following: Cash flows showing timely payment of principal and interest on the bonds until maturity, assuming no reinvestment earnings on the bond fund and an additional obligor deposit of preference proof moneys; The extremely high credit quality of the assets consisting of a Ginnie Mae mortgage-backed securities; An asset-to-liability ratio of roughly 101% as of Sept. 2011; and Investments held in JPMorgan Prime Money Market Fund (AAAm). Previously, the rating was withdrawn due to our publication of a revised methodology for certain federal...
Companies mentioned in this report are: Illinois Hsg Dev Auth
Action: Outlook: Negative
Action: Rating Reinstated
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Illinois Hsg Dev Auth
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