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Summary: Nevada Housing Division; Single Family Multiple MBS Feb 13 Product Image

Summary: Nevada Housing Division; Single Family Multiple MBS Feb 13

  • Published: February 2013
  • Region: Nevada
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services affirmed its 'AA+' long-term rating on several series of Nevada Housing Division's single-family program mortgage revenue bonds, all of which are part of a general certificate issued in 2009 to facilitate the division's participation in the New Issue Bond Program (NIBP). The outlook is negative, reflecting the outlook on the U.S. sovereign rating (AA+/Negative). The rating reflects our consideration of several factors, including: The very strong credit quality of the underlying assets, consisting of Ginnie Mae mortgage-backed securities (MBS), which are 'AA+' eligible under our criteria; Updated cash flows demonstrating timely payment of principal and interest on the bonds until maturity and sufficient funds to partially redeem the bonds in the event of incomplete MBS...

Companies mentioned in this report are:
- Nevada Hsg Div

Action: Affirmed
Action: Outlook: Negative

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- Nevada Hsg Div

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