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North Carolina Housing Finance Agency; Single Family Whole Loan Oct 11

  • ID: 2169698
  • October 2011
  • Region: North Carolina
  • Standard & Poors
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Standard & Poor's Ratings Services assigned its 'AA' long-term rating to North Carolina Housing Finance Agency's (NCHFA) home ownership revenue refunding bonds series 32. At the same time, Standard & Poor's affirmed its ratings on all the other series under the parity resolution. The outlook is stable. The rating reflects our view of the following strengths: Very strong credit quality of the single-family mortgage collateral, which includes Federal Housing Administration (FHA); Veterans Administration (VA); United States Department of Agriculture (USDA), which benefits from the full faith and credit of the U.S (AA+); primary mortgage insurance; and uninsured mortgage loans; Asset-to-liability ratios above 100% for series 32 on a standalone basis; Opening parity for the consolidated cash flows statements of 109%...

Companies mentioned in this report are:
- North Carolina Hsg Fin Agy

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

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- North Carolina Hsg Fin Agy

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