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Augusta Housing Authority, GA Series 2004 Bonds Rating Raised To 'AA+' Dec 11
Standard & Poors, Dec 2011
Abstract
NEW YORK (Standard & Poor's) Dec. 8, 2011--Standard & Poor's Ratings Services raised its long-term rating on Augusta Housing Authority, Ga.'s (Richmond Summit Apartments Project) multifamily housing revenue bonds series 2004 four notches to 'AA+' from 'BB'. The outlook is negative. The bonds are secured by a Ginnie Mae mortgage-backed security. The rating reflects the sovereign rating on the United States (AA+/Negative). 'Should the sovereign rating on the United States be upgraded to 'AAA' and the bond program meet all criteria commensurate with an 'AAA' rating, the rating on the bonds will be upgraded,' said Standard & Poor's credit analyst Renee J. Berson. Standard & Poor's has analyzed updated cash flow statements, based on a zero reinvestment assumption for all...
Companies mentioned in this report are: Augusta Hsg Auth
Action: Outlook: Negative
Action: Upgraded
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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