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Summary: California Statewide Comntys Dev Auth; Housing, Multifamily GNMA Dec 05

  • ID: 2045301
  • December 2005
  • Region: California
  • Standard & Poors

The 'AAA' rating on California Statewide Communities Development Authority's multifamily housing revenue refunding bonds (Village of East Tabor Apartments) series 2001 C and C-T has been affirmed. The bonds are secured by a Ginnie Mae mortgage-backed security. Other rating factors include: The sufficiency of revenues from mortgage debt service payments and investment earnings to pay full and timely debt service on the bonds until maturity, Investments held in Wells Fargo Advantage Treasury Plus Money Market Fund ('AAAm'), and An asset-to-liability ratio of 100.12% as of Dec. 6, 2005. The rating reflects the strong credit quality of the assets and credit support underlying the issue. The assets consist of a Ginnie Mae mortgage-backed security, which is 'AAA' eligible under Standard &...

Companies mentioned in this report are:
- California Statewide Communities Dev Auth

Action: Affirmed

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 READ MORE >

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- California Statewide Communities Dev Auth

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown


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