- Language: English
- 170 Pages
- Published: February 2012
- Region: Great Britain, United Kingdom
Summary: Denver City and County, Colorado Garden Court Mutual Housing Association Inc.; Fannie Mae Direct Pay Dec 08
- ID: 2035958
- December 2008
- Region: Colorado
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'AAA/A-1+' rating to Denver City and County (Garden Court Mutual Housing Association Inc.), Colo.'s variable-rate demand multifamily housing revenue refunding bonds, issued on behalf of Garden Court Community Project, reflecting the strong credit and liquidity enhancement of the bonds through an unconditional and irrevocable direct-pay credit facility provided by Fannie Mae. The credit facility is sized at principal plus interest calculated at the maximum rate of 12% on the bonds. There will be 39 days of interest coverage for the first interest period and then 34 days of interest coverage thereon after. The bonds will initially bear interest at a weekly rate but can be converted to a reset or fixed rate. The...
Companies mentioned in this report are: Garden Court Mutual Hsg Assoc, Inc.,Denver City & Cnty
Action: New Rating
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 >
Garden Court Mutual Hsg Assoc, Inc.,Denver City & Cnty