Rhode Island Housing and Mortgage Finance Corp.; Housing, Note; Housing, Other; Housing, Single Family Whole Loan Sep 03
Standard & Poors, September 2003
Abstract
The ratings on Rhode Island Housing and Mortgage Finance Corp.'s (RIHMFC) bonds and notes reflect: Very good performance and strong credit quality of the mortgage loan collateral; Strength of the indenture cash flow runs; Sufficiency of reserve levels that are sized in accordance with Standard & Poor's '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 strong issuer credit rating ('AA-'); and RIHMFC's top-tier status. Proceeds from the sale of the bonds will be combined with other funds available under the trust estate in order to originate and acquire new loans and pay costs of issuance; note...
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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