The 'AAA' rating on El Paso County, Colo.'s single-family mortgage revenue bonds 1998 series A and 1998 series B has been affirmed. The bonds are secured by mortgage pass-through certificates from Ginne Mae, Fannie Mae, and Freddie Mac. Other rating factors include: 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 pursuant to an investment agreement with 'AAA' rated FGIC, and An asset-to-liability ratio of 100.71% as of Jan. 1, 2003. The rating reflects the strong credit quality of the assets and credit support underlying the issue. The assets consist of guaranteed mortgage pass-through certificates from Ginnie Mae, Fannie Mae, and Freddie Mac,...
Companies mentioned in this report are: El Paso Cnty
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