Rating Raised To 'A' On Millenium Housing Of California's Mobile Home Park Revenue Refunding Bonds Jan 12
- ID: 2045582
- January 2012
- Region: California
- Standard & Poors
SAN FRANCISCO (Standard & Poor's) Jan. 25, 2012-- Standard & Poor's Ratings Services raised its long-term rating to 'A' from 'A-' on California Mobile Home Park Finance Authority, Calif.'s series 2006A mobile home park revenue refunding bonds (Union City Tropics Mobile Home Park), issued for Millennium Housing of California. The outlook is stable. "The raised rating reflects our view of the park's increased debt service coverage, decreased expenses, and strong occupancy at the property," said Standard & Poor's credit analyst Alexis Laing. "Further supporting the rating is the property's debt service reserve fund, which is funded at 12 months' maximum annual debt service," Ms. Laing added. The senior park consists of 544 mobile home spaces on 74 acres of land...
Companies mentioned in this report are: Millennium Hsg of California,California Mobile Home Pk Fing Auth
Action: Outlook: Stable
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