Rhode Island Housing and Mortgage Finance Corp.; Single Family Whole Loan Aug 08
Standard & Poors, August 2008
Abstract
The 'AA+' rating on Rhode Island Housing and Mortgage Finance Corp.'s (Rhode Island Housing) series 60 bonds and the outstanding debt issued under the homeownership opportunity bond resolution reflects: Very strong performance and credit quality of the mortgage loan collateral, Strength of the indenture cash flow runs, Very strong reserve levels that are commensurate with the rating on the bonds to provide protection for potential loan losses, and Very high credit quality of investments under the resolution. The 'SP-1+' rating assigned to the series 60-C notes reflects the high quality of the investments in which the note proceeds will be held until maturity. Proceeds from the sale of the bonds will be used to make new single-family mortgage loans, which...
Companies mentioned in this report are:
- Rhode Island Hsg & Mtg Fin Corp
Action: New Rating
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
- Rhode Island Hsg & Mtg Fin Corp
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