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Summary: Rhode Island Hsg & Mtg Fin Corp; Revenue - Housing, Convertible Option Bonds; Revenue - Housing, Single Family Whole Loan Aug 99 Product Image

Summary: Rhode Island Hsg & Mtg Fin Corp; Revenue - Housing, Convertible Option Bonds; Revenue - Housing, Single Family Whole Loan Aug 99

  • Published: August 1999
  • Region: Rhode Island
  • Standard & Poors

Abstract
The ratings on Rhode Island Housing and Mortgage Finance Corp.'s (RIHMFC) bonds reflect: Good performance and very strong credit quality of the mortgage loan collateral, Strength of the indenture cash flow runs, Adequate loan loss protection, The corporation's very strong issuer credit rating ('AA-'), Very high credit quality of investments under the resolution, and RIHMFC's Top Tier status. Proceeds from the sale of the series 31A-D bonds will be combined with a contribution from the issuer's general fund in order to originate and acquire new loans, pay cost of issuance, and deposit monies into an investment agreement. The bonds will be issued on parity with all prior series under the corporation's homeownership opportunity bond resolution ($1.4 billion). Loan loss protection...

Companies mentioned in this report are:
- Rhode Island Hsg & Mtg Fin Corp

Action: New Rating

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- Rhode Island Hsg & Mtg Fin Corp

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