Summary: El Paso Cnty, CO; Revenue - Housing, FHLMC Collateral Agreement Sep 99
- ID: 2031642
- September 1999
- Standard & Poors
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
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
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.
SHOW LESS READ MORE >