Standard & Poor's Ratings Services affirmed its 'AAA' rating on Denver City and County, Colo.'s (Metro Mayors Caucus single-family mortgage bond program) single-family home mortgage revenue bonds series 2001A and removed it from CreditWatch with negative implications. The rating reflects our view of the following: Cash flows showing timely payment of principal and interest on the bonds until maturity assuming no reinvestment earnings on the bond fund; The extremely high credit quality of the assets consisting of a GNMA permanent loan certificate; and Investments held in 'AAAm'-rated money market fund. On May 12, 2010, the rating was included in a rating action where we placed certain housing issues on CreditWatch with negative implications due to revised methodology for certain Federal...
Companies mentioned in this report are:
- Denver City & Cnty
Action: Removed From CreditWatch
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 >