Rating Outlook On Kentucky Housing Corp.'s Parity Debt Off Watch Negative On Strong Performance Jan 12

Standard & Poors, January 2012

Abstract
NEW YORK (Standard & Poor's) Jan. 4, 2012--Standard & Poor's Ratings Services assigned its 'AAA' long-term rating to Kentucky Housing Corp.'s (KHC) $30 million housing revenue bonds series 2009C-4 series and $20 million housing revenue bonds series 2011B. At the same time, Standard & Poor's removed its ratings on KHC's parity debt from CreditWatch with negative implications. The ratings were affirmed. The outlook is stable. "The rating action is based on our view of continued high parity and strong performance by the mortgage portfolio," said Standard & Poor's credit analyst Mikiyon Alexander. The rating reflects our opinion of: The high quality of the collateral supporting the bonds, which consists primarily of Federal Housing Administration (FHA)-insured or Veterans Administration-guaranteed single-family mortgage...

Companies mentioned in this report are: Kentucky Hsg Corp
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

Kentucky Hsg Corp

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