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Summary: El Paso Cnty, CO; Revenue - Housing, Single Family GNMA; Revenue - Housing, Single Family Multiple MBS Jul 96

  • ID: 2031643
  • July 1996
  • Standard & Poors
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The rating on El Paso County, Colo.'s bonds reflects the high credit quality of the assets supporting the issue as well as sufficient assets and revenues to pay debt service and expenses for the life of the issue. These assets will be GNMA and FHLMC mortgage pass-through securities and 'AAA' rated investment securities. GNMA and FHLMC mortgage-backed securities qualify as - AAA' eligible securities under Standard & Poor's rating criteria. During the acquisition period, bond proceeds will be invested in an investment agreement in an investment agreement with Bayerische Landesbank Girozentrale ('AAA'). The agreement will pay interest at the rate of 3.25% and this rate will step up to 6.15% on Aug. 1, 1997. The agreement terminates on Nov. 30,...

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 READ MORE >

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El Paso Cnty

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