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Summary: Kentucky Housing Corp.; Single Family Whole Loan Jan 12 Product Image

Summary: Kentucky Housing Corp.; Single Family Whole Loan Jan 12

  • Published: January 2012
  • Region: Kentucky
  • Standard & Poors

Abstract
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 based on our view of continued high parity and strong performance by the mortgage portfolio. The ratings were affirmed. The outlook is stable. 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 loans and some FHA-insured multifamily loans; A very strong assets-to-liabilities ratio of more than 108%; A cash flow that...

Companies mentioned in this report are:
- Kentucky Hsg Corp

Action: Affirmed
Action: New Rating
Action: Outlook: Stable
Action: Removed From CreditWatch

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- Kentucky Hsg Corp

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