Summary: California Statewide Communities Development Authority's Series 2000Y-T Bonds Rating Off Watch Negative; Affirmed; Multifamily FNMA Jun 10
- ID: 2044158
- June 2010
- Region: California
- Standard & Poors
Standard & Poor's Ratings Services removed its 'AAA' long-term rating on California Statewide Communities Development Authority's (Olympus Park Project) taxable multifamily variable-rate housing revenue bonds series 2000Y-T from CreditWatch with negative implications. At the same time, the rating was affirmed. On May 12, 2010, it was included in a rating action where we placed certain housing issues on CreditWatch with negative implications due to revised methodology for certain Federal Government-Enhanced housing transactions. Standard & Poor's has received updated information that this issue, in our opinion, is not reliant on investment earnings for full and timely payment due to the pass-through nature of the bonds. USPF Criteria: Ginnie Mae, Fannie Mae, And Freddie Mac Multifamily Securities, June 26, 2007...
Companies mentioned in this report are:
- California Statewide Communities Dev Auth
Action: Removed From CreditWatch
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