• 1-800-526-8630U.S. (TOLL FREE)
  • 1-917-300-0470EAST COAST U.S.
  • +353-1-416-8900REST OF WORLD
Capmark Military Housing Trust XXXIX; Military Housing Mar 12 Product Image

Capmark Military Housing Trust XXXIX; Military Housing Mar 12

  • ID: 2083356
  • March 2012
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services has raised its underlying rating (SPUR) on Capmark Military Housing Trust XXXIX, Calif.'s military housing revenue bonds series 2008A2 bonds to 'A+ (sf)' from 'A (sf)'. At the same time, Standard & Poor's affirmed its 'AA+ (sf)' long-term rating and SPUR on the trust's military housing revenue bonds series 2008A1A. The outlook is stable. The rating action reflects our view of the following strengths: The high quality of the assets supporting the bonds, including the federally appropriated revenue stream and the real estate collateral; The financial strength of the transaction as indicated by debt service coverage (DSC) on series 2008A1A class I and 2008A2 class II of roughly 1.72x and 1.67x, respectively, based on 2011...

Companies mentioned in this report are: Capmark Military Hsg Trust XXXIX
Action: Upgraded

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 and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Full Analysis

Note: Product cover images may vary from those shown

RELATED PRODUCTS