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California Statewide Communities Development Authority's Series 1998 Housing Revenue Bond Rating Removed From CW Neg Aug 10
Standard & Poors, Aug 2010
Abstract
SAN FRANCISCO (Standard & Poor's) Aug. 12, 2010-- Standard & Poor's Ratings Services removed California Statewide Communities Development Authority, Calif.'s series 1998 multifamily housing revenue bonds (Santa Paula Village Apartments) from CreditWatch with negative implications where it was placed May 12, 2010. The outlook is not meaningful. At the same time, Standard & Poor's affirmed its 'AAA' long-term rating on the bonds. 'The CreditWatch removal reflects our belief that the series 1998 bonds are able to meet all costs from transaction cash flows for the term of the bonds, assuming no reinvestment earnings,' said Standard & Poor's credit analyst Aranzasu De La O. 'Before removing the CreditWatch listing, Standard & Poor's analyzed the bond's updated cash flow statements, based on...
Companies mentioned in this report are: California Statewide Communities Dev Auth
Action: Affirmed
Action: Removed From CreditWatch
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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