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California Statewide Communities Development Authority's Series 2009A Federal New Issue Bond Program Bonds Rated 'AAA' Dec 09
Standard & Poors, Dec 2009
Abstract
NEW YORK (Standard & Poor's) Dec. 17, 2009--Standard & Poor's Ratings Services assigned its 'AAA' long-term rating to California Statewide Communities Development Authority's affordable multifamily housing revenue bonds series 2009A. The bonds will be issued under a new trust indenture, and bond proceeds will initially be held in escrow in accordance with the New Issue Bond Program (NIBP). 'The rating reflects our assessment of investments which we consider commensurate with the rating on the bonds,' said Standard & Poor's credit analyst Edward Ubiera. The 2009A bonds are being issued as escrow bonds under the multifamily NIBP. The 2009A bonds are being purchased by Fannie Mae and Freddie Mac pursuant to the NIBP. Under the NIBP, the purchasers will exchange the...
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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