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Summary: Missouri Housing Development Commission; Multifamily FHA Insurance Feb 13

  • ID: 2404724
  • February 2013
  • Region: Missouri
  • Standard & Poors
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Standard & Poor's Ratings Services has assigned its 'AA' long-term rating to Missouri Housing Development Commission's (MHDC) multifamily housing revenue bonds series 2013-1, issued for Friendship Village Apartments. At the same time, Standard & Poor's affirmed its 'AA' rating on the existing bonds issued under the resolution. The 'AA' rating reflects our opinion of the following: The mortgage loan insured by Federal Housing Administration (FHA) under section 542(c) of the Housing and Community Development Act; The debt service reserve fund sized at six months' debt service; MHDC's general obligation pledge (AA+) to cover certain potential shortfalls; The cash flows demonstrating sufficiency of mortgage payments and investment earnings to pay full and timely debt service and expenses on the bonds until...

Companies mentioned in this report are:
- Missouri Hsg Dev Comm

Action: New Rating

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- Missouri Hsg Dev Comm

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