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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

  • Published: 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 READ MORE >

- KDF Comntys
- California Statewide Communities Dev Auth

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