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California Statewide Communities Dev Auth's Hsg Bonds (Villa at Hamilton Apts) Rated AAA/A-1+ Dec 01
Standard & Poors, Dec 2001
Abstract
SAN FRANCISCO (Standard & Poor's) Dec. 11, 2001--Standard & Poor's today assigned its triple-'A'/'A-1'-plus rating to California Statewide Communities Development Authority's $10.74 million and $2.86 million multifamily housing revenue bonds series 2001HH and 2001HH-T, respectively, issued on behalf of Villas at Hamilton Apartments. The bonds are scheduled to sell on Dec. 14, 2001. The rating reflects the extremely strong credit and liquidity enhancement of the bonds through a Fannie Mae direct pay credit enhancement facility. The bonds are issued to provide financing for the acquisition, construction, and equipping of a multifamily housing facility called Villas at Hamilton Apartments in Novato, Calif. The bonds used to fund the mortgage on the project will be secured by a Fannie Mae direct pay...
Companies mentioned in this report are: California Statewide Communities Dev 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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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