Summary: Central Texas Housing Finance Corp.; Single Family Multiple MBS Dec 11

Standard & Poors, December 2011

Abstract
Standard & Poor's Ratings Services assigned its 'AA+' long-term rating to the Central Texas Housing Finance Corp. (HFC)'s single-family mortgage revenue bonds series 2009A-1, issued under its New Issue Bond Program (NIBP) indenture. The outlook is negative. The rating reflects our opinion of: The very high quality of assets supporting the bonds, consisting of Ginnie Mae, Fannie Mae, and Freddie Mac mortgage-backed certificates (MBS) and reserves; Investments that are commensurate with the rating on the bonds; Sufficiency of revenues to pay debt service and fees when due; and The rating on the U.S. The rating also reflects the sovereign rating on the U.S. (AA+/Negative/A-1+). Should the rating on the U.S. be upgraded to 'AAA' and the bond program meet all...

Companies mentioned in this report are: Central Texas Hsg Fin Corp
Action: New Rating
Action: Outlook: Negative

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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.

Central Texas Hsg Fin Corp

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