The ratings on Rhode Island Housing and Mortgage Finance Corp.'s (RIHMFC) series 39 bonds and notes, and affirmation of the existing ratings under the resolution reflect: Very good performance and very strong credit quality of the mortgage loan collateral; Strength of the indenture cash flow runs; Strong reserve levels sized in accordance with Standard & Poor's 'AA' rating level in order to provide protection for potential loan loss losses; The corporation's very strong issuer credit rating (AA-); Very high credit quality of investments under the resolution, which are invested substantially with providers whose ratings are 'AA+' and higher; and RIHMFC's top tier status. Proceeds from the sale of the bonds and notes will be combined with other monies available under...
Companies mentioned in this report are:
- Rhode Island Hsg & Mtg Fin Corp
Action: New Rating
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