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Summary: Bexar County Housing Finance Corp., Texas; Section 236 Dec 08 Product Image

Summary: Bexar County Housing Finance Corp., Texas; Section 236 Dec 08

  • ID: 2028906
  • December 2008
  • Region: Texas
  • Standard & Poors

Standard & Poor's Ratings Services affirmed its 'A' rating on Bexar County Housing Finance Corp., Texas' multifamily housing revenue bonds (Woodland Ridge Apartments) series 2002, reflecting: A pledge of all Section 236 interest reduction payments (IRP) to be received relating to the Woodland Ridge Apartments through their remaining term; Debt service coverage (DSC) from the IRP 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 and insurance with providers whose ratings are commensurate with the rating on the bonds. This bond issue is rated under Standard & Poor's criteria for Section 236 bonds. Section 236 of the National...

Companies mentioned in this report are: Bexar Cnty Hsg Fin Corp
Action: Affirmed

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