Standard & Poor's Ratings Services affirmed its 'AAA/A-1+' ratings on Kentucky Housing Corp.'s (KHC) series 2005B, 2005H, 2005L, 2006C, 2006F, 2006I, 2006M, and 2006O housing revenue variable-rate demand bonds. The outlook is stable. The ratings reflect our view of: The high quality of the collateral supporting the bonds, consisting primarily of Federal Housing Administration (FHA)-insured or Veterans Administration-guaranteed single-family mortgage loans and some FHA-insured multifamily loans; The very strong assets-to-liabilities ratio of more than 108%; Cash flow simulation demonstrating sufficient excess assets to absorb potential losses in an 'AAA' depression scenario that would not be covered by primary mortgage insurance; and High-quality investments held under the resolution. The 'A-1+' short-term component of the rating on each series reflects liquidity support...
Companies mentioned in this report are:
- Kentucky Hsg Corp
Action: Outlook: Stable
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