Summary: Denver City and County, Colorado; Multifamily FHA Insurance Apr 09
- ID: 2036000
- April 2009
- Region: Colorado
- Standard & Poors
The 'BBB+' rating on Denver City and County, Colo.'s (FHA-insured multifamily housing revenue bonds (Boston Lofts Project) series 1997 A and B has been affirmed. The mortgage loan is insured by FHA under section 220 of the National Housing Act. The rating continues to reflect our view of: The extremely high credit quality of the FHA-insured mortgage loan collateral; Sufficiency of assets and revenues to pay debt service and expenses; A debt service reserve fund sized at eight months' debt service on the bonds; Extremely strong investment quality; and An asset-to-liability position of 101.11% as of Jan. 27, 2009. The bonds were issued in order rehabilitate two adjoining buildings located in Denver, Colo. The project consists of 32 low-income units...
Companies mentioned in this report are: Denver City & Cnty
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