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Summary: Trinity River Public Facility Corp., Texas Overton Square L.P.; Multifamily GNMA Mar 12 Product Image

Summary: Trinity River Public Facility Corp., Texas Overton Square L.P.; Multifamily GNMA Mar 12

  • Published: March 2012
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services affirmed its 'AA+' rating on Trinity River Public Facility Corp., Texas' series 2002 multifamily housing revenue bonds (Overton Park Townhomes). The outlook is negative. This rating reflects: The high credit quality of the underlying assets, consisting of a 'AA+' eligible Ginnie Mae mortgage-backed security; The high credit quality of related investments; The sufficiency of revenues from mortgage debt service payments and investment earnings to cover debt service on the bonds; and The issue's sufficient asset to liability ratio of 101.3%. The rating also reflects the 'AA+' sovereign rating of the U.S. and, by extension, Ginnie Mae, the entity responsible for guaranteeing payment to bondholders. The negative outlook reflects the U.S. sovereign rating outlook (AA+/Negative/A-1+). The...

Companies mentioned in this report are: Overton Square L.P.,Trinity River Pub Fac Corp
Action: Affirmed
Action: Outlook: Negative

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Overton Square L.P.,Trinity River Pub Fac Corp

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