Summary: Nevada Housing Division; FNMA Collateral Agreement Mar 12

Standard & Poors, March 2012

Abstract
Standard & Poor's Ratings Services affirmed its 'AA-' long-term rating on Nevada Housing Division's multifamily housing revenue bonds (Boulder Creek) series 1998A and 1998B. The rating reflects our view of the following: An irrevocable standby Fannie Mae credit enhancement facility for the mortgage loan backing the bonds, which consider to be 'AA+' eligible under our rating criteria; The sufficiency of revenues from mortgage debt service payments and investment earnings to pay full and timely debt service on the bonds until maturity; An asset-to-liability ratio of 101.65% as of Dec. 31, 2011; and Extremely strong investment quality. The mortgage loan was delivered to the trust estate at closing and is enhanced by a Fannie Mae credit facility. The facility provides for...

Companies mentioned in this report are: Nevada Hsg Div
Action: Affirmed

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Nevada Hsg Div

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