| Title: | King County Housing Authority, Washington; Affordable Housing |
| Price: | $400.00 |
| Publication Date: | May 07, 2008 |
| Report Type: | Full Report |
| Abstract: | Standard&Poor's Ratings Services affirmed its 'AA-' rating on King County Housing Authority, Wash.'s (KCHA) multifamily housing revenue bonds, series 1994A, issued on behalf of Cascadian Apartments. The rating reflects: Strong debt service coverage of 2.38x maximum annual debt service (MADS), which has further improved from 2.32x in the fiscal 2006; Strong occupancy at the property; Debt service reserve fund funded at 12 months' MADS; Low senior loan-to-value ratio; Experienced ownership, management, and oversight; and Perfected first mortgage security interest in the real property and a perfected security interest in the funds held in the trust estate. The above strengths are partially offset by a rise in expenses leading to a higher expense ratio. The stable outlook reflects the |
| Brief Excerpt: | RESEARCH Ratings Definitions King County Housing Authority, Washington; Affordable Housing Publication date: ##-May-#### Primary Credit Analyst: Debra Boyd, San Francisco (#) ###-###-####; debra_boyd@standardandpoors.com Secondary... |
| Word Count: | 1141 |
| Issuer: | King Cnty Hsg Auth |
| Sector: | Global Issuers, Public Finance, Financial Institutions |
| Country: | United States |
| Region: | United States |
| Format: | 
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