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

Minneapolis, Minnesota; Section 8

Published Dec 14, 2010

1353 words — Published Dec 14, 2010

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About This Report

Abstract:

Standard&Poor's Ratings Services affirmed its 'A' long-term rating on Minneapolis, Minn.'s (Nicollet Towers project) Section 8-assisted multifamily housing revenue bonds series 1996. The outlook is stable. The rating continues to reflect our opinion of the following: Strong debt service coverage (DSC) of 1.44x maximum annual debt service (MADS) based on audited financial results for the fiscal ended June 2010; History of annual rental increases for the past three years; Strong occupancy rates at the project with 500 families on the waiting list; Debt service reserve fund (DSRF) funded at 12 months' MADS; Good condition of the property as indicated by a high real estate assessment centre score (REAC) of 92b; and Investments held in a guaranteed investment contract

Brief Excerpt:

RESEARCH Minneapolis, Minnesota; Section 8 Publication date: 14-Dec-2010 Primary Credit Analyst: Renee J Berson, New York (1) 212-438-7966; renee_berson@standardandpoors.com Secondary Contact: Moraa Andima, New York (1) 212-438-2734;...

Report Type:

Full Report

Ticker

MINMED

Issuer

Minneapolis

Sector

Global Issuers, Public Finance

Country

United States

Region

United States

Format:

HTML

Summary: Minneapolis, Minnesota; Multifamily GNMA – 2011/02/16 – US$ 225.00

Summary: Minneapolis, Minnesota; General Obligation – 2011/03/11 – US$ 225.00

Minneapolis, Minnesota; Section 8 – 2011/04/14 – US$ 500.00

Summary: Minneapolis, Minnesota; Section 8 – 2011/04/14 – US$ 225.00

Summary: Minneapolis, Minnesota; General Obligation – 2011/05/06 – US$ 225.00

Summary: Minneapolis, Minnesota; Section 8 – 2010/12/14 – US$ 225.00

Summary: Minneapolis, Minnesota; General Obligation; Tax Increment – 2010/11/15 – 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

Transaction Update: Minneapolis, Minn. – 2010/11/12 – US$ 375.00

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Minneapolis, Minnesota; Section 8" Dec 14, 2010. Alacra Store. May 19, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Minneapolis-Minnesota-Section-8-837769>

APA:	S&P Global Ratings’ Credit Research. (). Minneapolis, Minnesota; Section 8 Dec 14, 2010. New York, NY: Alacra Store. Retrieved May 19, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Minneapolis-Minnesota-Section-8-837769>

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