| Title: | Summary: Sawmill Apartments LTD Partner, New Mexico; Freddie Mac Direct Pay |
| Price: | $175.00 |
| Publication Date: | May 09, 2008 |
| Report Type: | Summary |
| Abstract: | Standard&Poor's Ratings Services assigned its 'AAA/A-1+' rating to New Mexico Mortgage Finance Authority, NM's variable rate demand multifamily housing refunding revenue bonds, series 2008A, issued on behalf of Sawmill Apartments Ltd Partner. The rating reflects the delivery of a Freddie Mac direct-pay credit enhancement agreement. The credit enhancement agreement will provide credit coverage of principal and interest due on the bonds and liquidity coverage in the event of a failed remarketing. The credit facility is sized at principal plus 35 days' interest calculated at the maximum rate of 12% on the bonds in the variable rate mode. The bonds may also be converted to the reset or fixed-rate modes. If the bonds convert to the reset rate or |
| Brief Excerpt: | RESEARCH Ratings Definitions Summary: Sawmill Apartments LTD Partner, New Mexico; Freddie Mac Direct Pay Publication date: ##-May-#### Primary Credit Analyst: Debra Boyd, San Francisco (#) ###-###-####; debra_boyd@standardandpoors.com... |
| Word Count: | 685 |
| Issuer: | SAWMILL APTS LTD PARTNER |
| Sector: | Public Finance |
| Country: | United States |
| Region: | United States |
| Format: | 
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