- Language: English
- Published: October 2012
- Region: Iowa
Summary: Southern California Home Financing Authority; Single Family Multiple MBS May 08
- ID: 2029557
- May 2008
- Region: California
- Standard & Poors
Standard & Poor's Ratings Services affirmed its 'AAA' rating on Southern California Home Financing Authority's (SCHFA) single-family mortgage revenue bonds series 2001 A-1 and 2001 A-3. The bonds are secured by Ginnie Mae mortgage-backed securities and Fannie Mae pass-through certificates. The rating continues to reflect: The sufficiency of revenues from mortgage debt service payments and investment earnings to pay full and timely debt service on the bonds until maturity, Extremely strong investment quality, and An asset-to-liability ratio of 105.45% as of Dec. 27, 2007. The rating reflects the strong credit quality of the assets and credit support underlying the issue. The assets consist of Ginnie Mae guaranteed mortgage-backed securities and Fannie Mae pass-through certificates, which are 'AAA' eligible under Standard...
Companies mentioned in this report are: Southern California Home Fin Auth
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >