Summary: Montgomery County Industrial Development Authority, Pennsylvania New Regional Medical Center; Multifamily FHA Insurance Dec 11
- Language: English
- Published: December 2011
- Region: Pennsylvania
The 'BB' rating on El Paso County (FHA-insured taxable multifamily housing revenue bonds--Lynmar Apartments Project), Colo.'s series 1997A and taxable series 1997B has been affirmed. The bonds are secured by a mortgage loan, which is insured under section 221(d)4 of the National Housing Act. The rating reflects the credit shortfall that may occur if the mortgage note defaults. If this should occur, the 1% assignment fee that is not covered by FHA insurance and any reinvestment risk while the bondholders await payment from FHA may not be covered. Other rating factors include: The credit quality of the FHA-insured mortgage loan collateral; An asset-to-liability position of 100.69% as of June 2, 2006; Extremely strong investment quality; and Sufficiency of assets and...
Companies mentioned in this report are: El Paso Cnty
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 >
El Paso Cnty