Summary: California Statewide Communities Development Authority; Escrow; Freddie Mac Direct Pay Sep 10

Standard & Poors, September 2010

Abstract
Standard & Poor's Ratings Services has assigned its 'AAA' rating to California Statewide Communities Development Authority's affordable multifamily housing revenue bonds series 2009A-4 for the Tule Vista Apartments Project. At the same time, Standard & Poor's affirmed its 'AAA' rating on the authority's affordable multifamily housing revenue bonds series 2009A. The 2009A-4 bonds are a subset of the 2009A bonds (New Issue Bond Program). As money from 2009A is moved to specific projects, the amount of money in escrow declines. The series 2009A-4 bonds consist of $3 million in program bonds owned by the U.S. Treasury. The series 2009A bonds were issued under a new trust indenture, and bond proceeds were held in escrow in accordance with the New Issue...

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.

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.

- California Statewide Communities Dev Auth

Customers who bought this item also bought

• Housing Associations Market Report - UK 2012-2016 Analysis
• Local Government Services Market Review 2010
• Discipline-Centered Learning Communities: Creating Connections Among Students, Faculty, and Curricula. New Directions for Teaching and Learning, Number 132. J-B TL Single Issue Teaching and Learning
• Charter Schools - Global Outlook
• Implementing Transfer Associate Degrees: Perspectives From the States. New Directions for Community Colleges, Number 160. J-B CC Single Issue Community Colleges
• eLEARNING - Global Strategic Business Report
• Results that Matter. Improving Communities by Engaging Citizens, Measuring Performance, and Getting Things Done
• United Kingdom Defence and Security Report Q1 2013
• Marginalized Students. New Directions for Community Colleges, No. 155. J-B CC Single Issue Community Colleges
• IAEM CEM® Emergency Management Webcast Series