Summary: Jefferson Parish Finance Authority, Louisiana; Single Family Multiple MBS Nov 11

Standard & Poors, November 2011

Abstract
Standard & Poor's Rating Services assigned its 'AA+' long-term rating to Jefferson Parish Finance Authority, La.'s single-family mortgage revenue bonds series 2009A (converted to fixed rate), issued under its New Issue Bond Program (NIBP) indenture. The outlook is negative. The rating reflects our opinion of: The high quality of assets supporting the bonds consisting of Ginnie Mae mortgage-backed certificates (MBS) and reserves; Investments that are commensurate with the ratings on the bonds; Sufficiency of revenues to pay debt service and fees when due; and The rating on the U.S. government. The rating also reflects the sovereign rating on the U.S. (AA+/Negative). Should the U.S. be upgraded to 'AAA' and the bond program meets all criteria commensurate with an 'AAA' rating,...

Companies mentioned in this report are: Jefferson Parish Fin Auth
Action: New Rating
Action: Outlook: Negative

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.

Jefferson Parish Fin Auth

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