Georgia Housing And Finance Authority; Single Family Whole Loan Mar 12
Standard & Poors, March 2012
Abstract
Standard & Poor's Ratings Services removed its ratings on Georgia Housing and Finance Authority's (GHFA) outstanding debt from CreditWatch with negative implications, based on our view of the financial strength of the bonds and the strong oversight of the authority. At the same time, Standard & Poor's affirmed its 'AAA' long-term rating on the debt. The outlook is stable. The 'AAA' long-term rating reflects our view of: Economic stress scenario cash flows under various prepayment speeds, demonstrating, in our view, that there is currently sufficient loss coverage at the 'AAA' rating level; The quality of the single-family mortgage collateral; The equal and ratable pledge of all bonds under the resolution; A reserve fund; and The quality of the investments permitted...
Companies mentioned in this report are: Georgia Hsg and Fin Auth
Action: Outlook Revised
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
Georgia Hsg and Fin Auth
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