U.S. Public Finance Report Card: Housing Finance Agencies' Multifamily Bond Indentures Performed Well Amidst The Struggling Housing Market Mar 12
- Language: English
- Published: March 2012
- Region: United States
The 'AA+' rating on Rhode Island Housing and Mortgage Finance Corp.'s (RIHMFC) series 50 bonds and the outstanding debt issued under the homeownership opportunity bond resolution reflects: Excellent performance and strong credit quality of the mortgage loan collateral, Strength of the indenture cash flow runs, Very strong reserve levels that are sized in accordance with Standard & Poor's Ratings Services 'AA' rating level to provide protection for potential loan losses, High credit quality of investments under the resolution, which are invested substantially with providers whose ratings are 'AA+' and higher, The corporation's very strong issuer credit rating ('AA-'), and RIHMFC's top-tier status. The 'SP-1+' rating on the series 50C notes reflects the high quality of the investments in which the...
Companies mentioned in this report are:
- Rhode Island Hsg & Mtg Fin Corp
Action: New Rating
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