Standard & Poor's Ratings Services affirmed its 'A' long-term rating on Bexar County Housing Finance Corp., Texas' (Woodland Ridge Apartments) multifamily housing revenue bonds series 2002. The outlook is stable. The rating reflects our opinion of the following: A pledge of all Section 236 interest reduction payments (IRPs) to be received relating to the Woodland Ridge Apartments through their remaining term; Debt service coverage (DSC) from the IRPs sufficient for the rating level; A debt service reserve sized at three months of debt service on the bonds; Oversight provided by HUD and Alpha-Barnes Real Estate Services; and Permitted investments with providers whose ratings are commensurate with the rating on the bonds. The above strengths are partially offset by our opinion...
Companies mentioned in this report are: Bexar Cnty Hsg Fin Corp
Action: Outlook: Stable
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