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
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