The rating on the El Paso County, Colo.'s bonds reflects: - GNMA and FHLMC pass-through certificates, - Sufficiency of revenues from mortgage debt service payments and investment earnings to pay full and timely debt service on the bonds until maturity, - Investments in 'AAAm' rated First American Treasury Obligations money market fund, and - Asset-to-liability ratio of 100.27% as of Feb. 19, 1999. The rating reflects the strong credit quality of the assets and credit support underlying the issue. The assets consist of GNMA and FHLMC guaranteed mortgage pass-through certificates, which qualify as 'AAA'-rated investment securities. The reserve funds are all invested in 'AAAm' rated First American Treasury Obligations money market fund. Due to the strength and stability of the...
Companies mentioned in this report are: El Paso Cnty
Action: New Rating
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