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Summary: Denver City & Cnty, CO; Housing, Single Family Multiple MBS Mar 01

  • ID: 2035524
  • March 2001
  • Standard & Poors

Abstract
The 'AAA' rating on Denver City and County, Colo.'s single-family home mortgage revenue bonds (MBS program) series 1997A is affirmed. The bonds are secured by Ginnie Mae mortgage pass-through certificates. Other rating factors are: The sufficiency of revenues from mortgage debt service payments and investment earnings to pay full and timely debt service on the bonds until maturity; Investments held pursuant to a guaranteed investment contracts with 'AAA' rated AIG Matched Funding Corp. and 'AAAm' rated First American Government Obligations money market fund; and An asset-to-liability ratio of 114.98% as of Dec. 15, 2000. The rating reflects the strong credit quality of the assets and credit support underlying the issue. The assets consist of Ginnie Mae guaranteed mortgage pass-through certificates,...

Companies mentioned in this report are: Denver City & Cnty
Action: Affirmed

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Denver City & Cnty

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