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Summary: Fulton County Housing Authority, Georgia H.J. Russell & Co.; Multifamily GNMA Mar 12 Product Image

Summary: Fulton County Housing Authority, Georgia H.J. Russell & Co.; Multifamily GNMA Mar 12

  • Published: March 2012
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services affirmed its 'AA-' long-term rating on Fulton County Housing Authority, Ga.'s (H.J. Russell & Co.-Etheridge Court I and II Project) multifamily housing revenue bonds series 2002A and 2002B. The bonds are secured by a Ginnie Mae mortgage-backed security. The rating continues to reflect our view of: The sufficiency of revenues from mortgage debt service payments and investment earnings to pay full and timely debt service on the bonds until maturity; Strong investment quality of the guaranteed investment contract (GIC); and An asset-to-liability ratio of 113.66% as of Feb. 24, 2012. The assets consist of a Ginnie Mae guaranteed mortgage-backed security, which we consider 'AA+' eligible under our rating criteria. All investments are held pursuant to...

Companies mentioned in this report are: H.J. Russell & Co,Fulton Cnty Hsg Auth
Action: Affirmed

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H.J. Russell & Co,Fulton Cnty Hsg Auth

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