Summary: California Statewide Communities Development Authority; FNMA Collateral Agreement Feb 13
- ID: 2404480
- February 2013
- Region: California
- Standard & Poors
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
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