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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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Abstract
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

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 READ MORE >

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- Missouri Hsg Dev Comm

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