Summary: Housing Credit Fund LLC, Oklahoma Oklahoma County Finance Authority Jun 07
- ID: 2040180
- June 2007
- Region: Oklahoma
- Standard & Poors
The AAA/A-1+ rating on Housing Credit Fund LLC, Okla.'s multifamily housing revenue bonds (Village at Oakwood) series 2007, relating to Oklahoma County Finance Authority, reflects credit enhancement in the form of a fronting LOC provided by ARVEST Bank (NR) and a confirming LOC provided by Federal Home Loan Bank of Dallas (AAA/A-1+). The LOC provides sufficient coverage on the custodial receipts for principal, interest, and the redemptions outlined in the custody agreement. The LOC will terminate on June 15, 2009, but is subject to automatic one-year extensions at the option of the LOC provider. If the LOC is not extended, then the depositor shall obtain an alternate LOC, which requires rating confirmation. If an alternate LOC is not obtained, then...
Companies mentioned in this report are: Oklahoma Cnty Fin Auth
Action: New Rating
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >