Public Finance Authority $20.9 Million Bonds Series 2015 (Affinity At Monterrey Village) Assigned 'AA+/A-1+' Rating - S&P Global Ratings’ Credit Research

Public Finance Authority $20.9 Million Bonds Series 2015 (Affinity At Monterrey Village) Assigned 'AA+/A-1+' Rating

Public Finance Authority $20.9 Million Bonds Series 2015 (Affinity At Monterrey Village) Assigned 'AA+/A-1+' Rating - S&P Global Ratings’ Credit Research
Public Finance Authority $20.9 Million Bonds Series 2015 (Affinity At Monterrey Village) Assigned 'AA+/A-1+' Rating
Published Jul 15, 2015
3 pages (1378 words) — Published Jul 15, 2015
Price US$ 150.00  |  Buy this Report Now

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Abstract:

NEW YORK (Standard&Poor's) July 15, 2015--Standard&Poor's Ratings Services today assigned its 'AA+/A-1+' rating to Public Finance Authority's $20.9 million taxable variable-rate demand multifamily housing revenue bonds series 2015 (for the Affinity at Monterrey Village project) due Aug. 1, 2048. The 'AA+/A-1+' rating on the bonds reflects the higher of our ratings on the Federal Home Loan Bank of San Francisco (FHLB SF; 'AA+/A-1+'), the confirming letter of credit (CLOC) provider, and East West Bank ('BBB+/A-2'), the fronting LOC (FLOC) provider, during the weekly interest rate mode (the rated mode). The 'AA+' long-term component of our rating reflects the higher of our long-term issuer credit ratings on East West Bank and FHLB SF and addresses full and

  
Brief Excerpt:

...NEW YORK (Standard & Poor's) July 15, 2015--Standard & Poor's Ratings Services today assigned its '##+/A-1+' rating to Public Finance Authority's $20.9 million taxable variable-rate demand multifamily housing revenue bonds series 2015 (for the Affinity at Monterrey Village project) due Aug. 1, 2048. The '##+/A-1+' rating on the bonds reflects the higher of our ratings on the Federal Home Loan Bank of San Francisco (FHLB SF; '##+/A-1+'), the confirming letter of credit (CLOC) provider, and East West Bank ('###+/A-2'), the fronting LOC (FLOC) provider, during the weekly interest rate mode (the rated mode). The '##+' long-term component of our rating reflects the higher of our long-term issuer credit ratings on East West Bank and FHLB SF and addresses full and timely interest and principal payments when the bondholders have not exercised the put option. The 'A-1+' short-term component of our rating reflects the higher of our short-term issuer credit ratings on East West Bank and FHLB SF and...

  
Report Type:

Ratings Action

Issuer
Public Finance Authority
Sector
Global Issuers, Public Finance
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Public Finance Authority $20.9 Million Bonds Series 2015 (Affinity At Monterrey Village) Assigned 'AA+/A-1+' Rating" Jul 15, 2015. Alacra Store. May 14, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Public-Finance-Authority-20-9-Million-Bonds-Series-2015-Affinity-At-Monterrey-Village-Assigned-AA-A-1-Rating-1418577>
  
APA:
S&P Global Ratings’ Credit Research. (). Public Finance Authority $20.9 Million Bonds Series 2015 (Affinity At Monterrey Village) Assigned 'AA+/A-1+' Rating Jul 15, 2015. New York, NY: Alacra Store. Retrieved May 14, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Public-Finance-Authority-20-9-Million-Bonds-Series-2015-Affinity-At-Monterrey-Village-Assigned-AA-A-1-Rating-1418577>
  
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