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Summary: Hendersonville Industrial Development Board, Tennessee; FNMA Collateral Agreement Jan 12

  • ID: 2039532
  • January 2012
  • Region: Tennessee
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services reinstated its 'AA+/A-1+' rating on Hendersonville Industrial Development Board, Tenn.'s (Windsor Park project) multifamily housing revenue refunding bonds series 1998. The outlook is negative. The bonds are backed by a mortgage loan that is secured by a Fannie Mae collateral agreement. The 'AA+' long-term component of the rating reflects our opinion of the likelihood bondholders will receive payments of debt service. The 'A-1+' long-term component of the rating reflects our opinion of the likelihood of payment for ongoing optional and mandatory tenders. The rating reflects our view of: The sufficiency of revenues from mortgage debt service payments and investment earnings to pay full and timely debt service on the bonds until maturity; The high credit...

Companies mentioned in this report are: Hendersonville Indl Dev Brd
Action: Outlook: Negative
Action: Rating Reinstated

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Hendersonville Indl Dev Brd

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