Summary: California Dept of Vet Affairs; Appropriation, General Obligation Equivalent Security; Housing, Other; Housing, Single Family Whole Loan Dec 03

  • ID: 2047531
  • December 2003
  • Region: California
  • Standard & Poors
1 of 3

The ratings on California's Department of Veterans' Affairs home purchase revenue bonds 2003 series A and outstanding home purchase revenue bonds and veterans GO bonds reflects the State of California's GO bond rating of 'BBB', the overall credit strength of the Veterans Farm and Home Building Fund of 1943 (1943 Fund) and the historical track record of the veterans mortgage program. The 1943 Fund retains the following credit strengths: The overall high quality of the contracts of purchase and investment securities, The successful implementation by management of programmatic changes that effectively reduce the risk of losses under the program and help sustain long-term viability, and The resiliency of the cash flow projections. An interest rate mismatch between the fund's assets...

Companies mentioned in this report are:
- California Dept of Vet Affairs

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 READ MORE >

Note: Product cover images may vary from those shown
2 of 3

- California Dept of Vet Affairs

Note: Product cover images may vary from those shown
3 of 3
Note: Product cover images may vary from those shown




Our Clients

  • Fluidigm Corporation
  • Apple, Inc.
  • CEVA Santé Animale
  • Abbott Laboratories Ltd.
  • Merck Group
  • Allergan Inc.
  • Pfizer Inc.