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Summary: Midwest Family Housing LLC; Military Housing Dec 11
Standard & Poors, December 2011
Standard & Poor's Ratings Services affirmed its 'AA- (sf)', 'BBB- (sf)', 'BB (sf)', and 'B (sf)' long-term and underlying (SPUR) ratings on Midwest Family Housing LLC's class I, II, III, and IV military housing bonds series 2006A, respectively. The outlooks are stable. The class I, II, and III bonds are insured by CIFG Assurance North America Inc., which is currently unrated by Standard & Poor's. The ratings reflect our view of the project's following strengths: Adequate debt service coverage ratio of 2.27x, 1.45x, 1.10x, and 1.05x on the class I, II, III, and IV bonds, respectively, to support debt service coverage (DSC), based on 2010 audited financial statement; High essentiality of the project, with which the housing units and project...
Companies mentioned in this report are: Midwest Fam Hsg, LLC
Action: Outlook: Stable
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.
Midwest Fam Hsg, LLC