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Viewing report
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Bexar County Housing Finance Corp, TX's Multifamily Housing Revenue Bonds Rated 'AAA' Dec 99
Standard & Poors, Dec 1999
Abstract
SAN FRANCISCO (Standard & Poor's CreditWire) Dec. 6, 1999--Standard & Poor's today assigned its triple-`A' rating to Bexar County Housing Finance Corp., Texas' $11.65 million multifamily housing revenue bonds series 1999A, issued for Vista Meadows/Fredicksburg Place Apartments. The bonds are scheduled to sell Dec. 7, 1999. The rating is based upon: -- Fannie Mae credit enhancement of the mortgage backing the bonds through a mortgage-backed security (MBS) guarantee; -- Cash flows evidencing the sufficiency of revenues to timely meet debt service payments and cover all fees and expenses; and -- Triple-'A' rated investments. Proceeds from the sale of the bonds will be used to finance a $11.65 million mortgage loan, which will then be used to acquire and rehabilitate two...
Companies mentioned in this report are: Bexar Cnty Hsg Fin Corp
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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