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Summary: El Paso Cnty, CO; Revenue - Housing, FHLMC Collateral Agreement Sep 99 Product Image

Summary: El Paso Cnty, CO; Revenue - Housing, FHLMC Collateral Agreement Sep 99

  • ID: 2031642
  • September 1999
  • Standard & Poors

Abstract
Standard & Poor's affirms a 'AAA/A-1+' rating for this transaction as a Freddie Mac direct-pay credit enhancement is substituted for a letter of credit. This is a direct-pay facility and makes funds available for scheduled debt service payments, mandatory redemptions, and optional/mandatory tenders. The 'AAA' portion of the rating represents the likelihood debt service payments will be made over the remaining life of the issue. The 'A-1+' represents the likelihood of payment due to mandatory and optional tenders. The bonds will remain in a variable-rate mode of interest unless converted to a semiannual, term, or fixed-rate mode. Interest is payable semiannually in all modes on the first day of June and December. The bonds mature on Dec.1, 2024....

Companies mentioned in this report are: El Paso Cnty
Action: New Rating

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El Paso Cnty

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