Colorado Housing And Finance Authority Class I Bonds Rating Raised To 'AAA/A-1+'; Outlook Stable Sep 09
- ID: 2029939
- September 2009
- Region: Colorado
- Standard & Poors
SAN FRANCISCO (Standard & Poor's) Sept. 2, 2009--Standard & Poor's Ratings Services has raised the rating on the Colorado Housing and Finance Authority's class I adjustable-rate single-family mortgage bonds series 2005 B-2 to 'AAA/A-1+' from 'AAA/A-1', following the substitution of a standby bond purchase agreement (SBPA) from Barclays Bank PLC ('A-1+' short-term) for one from Dexia Credit Local ('A-1' short-term) on Sept. 2, 2009. The SPBA will cover 100% of principal and interest for 184 days. The outlook is stable. "The stable outlook on the class I bonds reflects our opinion of the extremely high asset-to-liability coverage that is in excess of our loss coverage requirements, extremely strong asset quality, and management's strong oversight of the program," said Standard &...
Companies mentioned in this report are:
- Colorado Hsg & Fin Auth
- Barclays Bank PLC
- Dexia Credit Local
Action: Outlook: Stable
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Research type: News
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