Home Credit Ratings and Research S&P Global Ratings’ Credit Research Minneapolis

Minneapolis, Minnesota; Section 8

Published Jul 15, 2010

1308 words — Published Jul 15, 2010

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Abstract:

Standard&Poor's Ratings Services affirmed its 'BBB' long-term rating on Minneapolis, Minn.'s (Olson Townhouses) Section 8 assistant multifamily housing revenue bonds series 1993. The affirmation reflects our view of the following: Improvement in debt service coverage (DSC) levels to 1.21x MADS level based on the audited financial statements for the fiscal 2009; Recent rental increase received by the project in 2009 as contract rents are below fair market rent (FMR); Decrease in expenses leading to improvement in the expense ratio; Debt service reserve fund (DSRF) funded at maximum annual debt service (MADS); and Strong occupancy rates at the property with a waiting list of 450 families. In our opinion, the stable outlook reflects the improved operating performance of the

Brief Excerpt:

RESEARCH Minneapolis, Minnesota; Section 8 Publication date: 15-Jul-2010 Primary Credit Analyst: Louis F Louis, New York (1) 212-438-2054; louis_louis@standardandpoors.com Secondary Credit Analyst: Renee J Berson, New York (1) 212-438-7966;...

Report Type:

Full Report

Ticker

MINMED

Issuer

Minneapolis

Sector

Global Issuers, Public Finance

Country

United States

Region

United States

Format:

HTML

Summary: Rating On Minneapolis, Minnesota's Series 1998 Multifamily Housing Revenue Bonds (Bossen Terrace Project) Withdrawn; Multifamily GNMA – 2010/10/08 – US$ 225.00

Minneapolis, MN's Series 1998 Multifamily Mortgage Rev Rfdg Bds Downgraded To 'CCC' – 2010/10/13 – US$ 150.00

Summary: Minneapolis, Minnesota; Multifamily GNMA – 2010/10/20 – US$ 225.00

Summary: Minneapolis, Minnesota; State Revolving Funds/Pools – 2010/11/12 – US$ 225.00

S&P Corrects Rating On Minneapolis, Minn. Bonds Series 2006 (MacPhail Center For Music) To 'AA-/A-1+' – 2010/11/12 – US$ 150.00

Summary: Minneapolis, Minnesota; Section 8 – 2010/07/15 – US$ 225.00

Summary: Minneapolis, Minnesota; General Obligation; Tax Increment – 2010/05/20 – US$ 225.00

Summary: Minneapolis, Minnesota; State Revolving Funds/Pools – 2010/04/26 – US$ 225.00

Summary: Minneapolis, Minnesota; Multifamily GNMA – 2009/12/18 – US$ 225.00

Summary: Minneapolis, Minnesota; Section 8 – 2009/12/07 – US$ 225.00

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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings 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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MLA:	S&P Global Ratings’ Credit Research. "Minneapolis, Minnesota; Section 8" Jul 15, 2010. Alacra Store. May 19, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Minneapolis-Minnesota-Section-8-809586>

APA:	S&P Global Ratings’ Credit Research. (). Minneapolis, Minnesota; Section 8 Jul 15, 2010. New York, NY: Alacra Store. Retrieved May 19, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Minneapolis-Minnesota-Section-8-809586>

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