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Summary: Louisiana Housing Finance Agency; Multifamily GNMA Oct 10 Product Image

Summary: Louisiana Housing Finance Agency; Multifamily GNMA Oct 10

  • Published: October 2010
  • Standard & Poors

FEATURED COMPANIES

Abstract
Standard & Poor's Ratings Services lowered its rating on Louisiana Housing Finance Agency's series 2007 multifamily housing revenue bonds (Spanish Arms Project) to 'B+' from 'AAA', and removed it from CreditWatch. The bonds are secured by a Ginnie Mae mortgage-backed security. On May 12, 2010, the issue was included in a rating action in which we placed our ratings on certain housing issues on CreditWatch with negative implications due to revised criteria for certain federal government-enhanced housing transactions. Our revised criteria affect government-enhanced housing transactions in which funds are invested in money market funds and other investments with no guaranteed rate of return Standard & Poor's has analyzed updated cash flow statements, based on a zero reinvestment assumption for all...

Companies mentioned in this report are: Louisiana Hsg Fin Agy
Action: Downgraded

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Louisiana Hsg Fin Agy

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