- Language: English
- Published: March 2012
- Region: Georgia
Summary: Gwinnett County Housing Authority, Georgia; Multifamily FNMA Mar 12
- ID: 2084855
- March 2012
- Region: Georgia
- Standard & Poors
Standard & Poor's Ratings Services affirmed its 'AA+' long-term rating on Gwinnett County Housing Authority, Ga.'s (Vista Longwood Apartments Project) multifamily housing revenue bonds series 2004. The outlook is negative. The bonds are secured by a Fannie Mae pass-through certificate. The rating reflects our view of the following: The sufficiency of revenues from mortgage debt service payments and investment earnings to pay full and timely debt service on the bonds until maturity; The high credit quality of the assets consisting of a Fannie Mae mortgage pass-through certificate; Investments held in a money market fund (AAAm); and Asset-to-liability parity of 100.50% as of Feb. 17, 2012. The rating also reflects the sovereign rating on the United States (AA+/Negative). Should the sovereign...
Companies mentioned in this report are: Gwinnett Cnty Hsg Auth
Action: Outlook: Negative
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >