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
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