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S&P Credit Research865 word report
published Feb 09, 2010
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S&P Credit Research
| Abstract: | Standard&Poor's Ratings Services affirmed its 'AAA' rating on Chicago, Ill.'s multifamily housing revenue bonds series 2002A (Indiana Manor Townhomes). The bonds are secured by Ginnie Mae mortgage-backed security. The rating reflects our view of the following: The extremely high credit quality of the Ginnie Mae mortgage-backed security; The sufficiency of revenues from mortgage debt service payments and investment earnings to pay full and timely debt service on the bonds until maturity; Extremely strong investment quality; and An asset-to-liability ratio of 101.69% as of Jan. 21, 2010. The rating reflects the strong credit quality of the assets and credit support underlying the issue. All funds are invested in Federated Government Obligations Fund money market fund, rated 'AAAm'. If the
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| Brief Excerpt: | RESEARCH Ratings Definitions Summary: Chicago, Illinois; Multifamily GNMA Publication date: 09-Feb-2010 Primary Credit Analyst: Louis F Louis, New York (1) 212-438-2054; louis_louis@standardandpoors.com Secondary Credit Analyst: Renee...
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| Report Type: | Summary
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| Issuer: | Chicago
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| Sector: | Global Issuers, Public Finance
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| Country: | United States
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| Region: | United States
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
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