Standard & Poor's Ratings Services affirmed its 'AA+/A-1+' rating on California Statewide Communities Development Authority's multifamily housing revenue bonds (Kimberly Woods Project) series 1995B. The outlook is negative. The 'AA+' long-term component of the rating reflects our opinion of the likelihood that bondholders will receive payments of debt service, while the 'A-1+' short-term component of the rating reflects our opinion of the likelihood of payments for mandatory and optional tender. The bonds are secured by a collateral agreement provided by the Federal National Mortgage Association (Fannie Mae). Other rating factors include our view of the following: The sufficiency of revenues from mortgage debt service payments and investment earnings to pay full and timely debt service on the bonds until maturity;...
Companies mentioned in this report are:
- California Statewide Communities Dev Auth
Action: Outlook: Negative
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included. SHOW LESS READ MORE >