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KDF Communities, CA's Multifamily Housing Revenue Bonds Rated 'AAA/A-1+' Mar 02 Product Image

KDF Communities, CA's Multifamily Housing Revenue Bonds Rated 'AAA/A-1+' Mar 02

  • ID: 2045299
  • March 2002
  • Standard & Poors

Abstract
SAN FRANCISCO (Standard & Poor's) March 29, 2002--Standard & Poor's today assigned its triple-'A'/'A-1'-plus rating to California Statewide Communities Development Authority's $25.5 million and $8.2 million variable-rate demand multifamily housing revenue bonds, series 2002C and 2002C-T, issued on behalf of KDF Communities. The bonds are scheduled to sell on April 5, 2002. 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 being issued to finance the acquisition and rehabilitation of a multifamily rental housing project (Valley Palms Apartments) located in San Jose, Calif. The bonds will be secured by a Fannie Mae direct pay credit enhancement facility, through which Fannie Mae will make all...

Companies mentioned in this report are:
- KDF Comntys
- 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.

- KDF Comntys
- California Statewide Communities Dev Auth

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