Summary: St Charles Cnty Indl Dev Auth, MO; Revenue - Housing, Multifamily FNMA May 99

  • ID: 2029780
  • May 1999
  • Standard & Poors
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The rating on St. Charles County Industrial Development Authority, Mo.'s bonds reflects: A Fannie Mae pass-through certificate; The sufficiency of revenues from mortgage debt service payments and investment earnings to pay full and timely debt service on the bonds until maturity; Investments held in a 'AAAm' rated money market fund; and An asset-to-liability ratio of 101.14% as of April 15, 1999. The bonds are secured by a Fannie Mae MBS. The rating reflects the strong credit quality of the assets and credit support underlying the issue. The assets consist of a Fannie Mae guaranteed mortgage pass-through certificate, which guarantees timely payment of principal and interest on the mortgage regardless of whether payments are made by the owner, and investments held...

Companies mentioned in this report are: St Charles Cnty Indl Dev Auth
Action: Affirmed

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St Charles Cnty Indl Dev Auth

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