0 CHECKOUT

Summary: Oklahoma Cnty Fin Auth; Revenue - Housing, Section 8 Oct 98

  • ID: 2039823
  • October 1998
  • Region: Oklahoma
  • Standard & Poors

FEATURED COMPANIES

  • Oklahoma Cnty Fin Auth
  • MORE

Abstract
The rating on Oklahoma County Finance Authority, Okla.'s bonds, issued for Oakridge Village Apartments, reflects: - The vulnerability of a payment default due to debt service coverage of 1.0 times (x); - Lack of reserve funding; and - Subordination of payments. Additional credit factors are project-based Section 8 Housing Assistance Payments (HAP) contract pledged to the payment of series C debt service, and management provided by Barr Investments Inc. The collateral pledge for series C bonds consists of a third lien on the project and all project revenues, including the 15-year, nonrenewable HAP. Bonds are sold with series A ('A-') and series B bonds ('BB'), which have a first and second lien, respectively on the project (see related rationale for...

Companies mentioned in this report are: Oklahoma Cnty Fin Auth
Action: Affirmed

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 READ MORE >

Note: Product cover images may vary from those shown

Oklahoma Cnty Fin Auth

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

PLEASE SELECT A FORMAT

  • Quick Help: This Credit Rating Report will be emailed to you.

HAVE A QUESTION?

If you have a more general question about our products please try our

FAQ SECTION

RELATED PRODUCTS

Our Clients

  • Fluidigm Corporation
  • Apple, Inc.
  • CEVA Santé Animale
  • Abbott Laboratories Ltd.
  • Merck Group
  • Allergan Inc.
  • Pfizer, Inc.