S&P Corrects And Lowers Southern California Home Finance Authority's Series 1997C-1A And 1997C-1B To 'AA+' - S&P Global Ratings’ Credit Research

S&P Corrects And Lowers Southern California Home Finance Authority's Series 1997C-1A And 1997C-1B To 'AA+'

S&P Corrects And Lowers Southern California Home Finance Authority's Series 1997C-1A And 1997C-1B To 'AA+' - S&P Global Ratings’ Credit Research
S&P Corrects And Lowers Southern California Home Finance Authority's Series 1997C-1A And 1997C-1B To 'AA+'
Published Oct 05, 2009
810 words — Published Oct 05, 2009
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About This Report

  
Abstract:

NEW YORK (Standard&Poor's) Oct. 5, 2009--Standard&Poor's Ratings Services corrected and lowered its rating on Southern California Home Finance Authority' s single-family mortgage revenue bonds (Ginnie Mae collateralized housing revenue bonds) series 1997C-1A and 1997C-1B to 'AA+' from 'AAA'. This issue receives partial credit support in the form of a guaranteed investment contract with General Electric Capital Corp. (AA+/A-1+) for the life of the bonds. We incorrectly did not lower the rating on the bonds contemporaneously with our March 12, 2009, downgrade of General Electric Capital Corp. to 'AA+/A-1+' from 'AAA/A-1+' (please see, "General Electric Co. And Units Long-Term Ratings Lowered To ?AA+?; Outlook Stable", RatingsDirect, March 12, 2009).

  
Brief Excerpt:

RESEARCH S&P Corrects And Lowers Southern California Home Finance Authority's Series 1997C-1A And 1997C-1B To '##+' Publication date: 05-Oct-2009 Primary Credit Analyst: Renee J Berson, New York (1) 212-438-7966; renee_berson@standardandpoors.com...

  
Report Type:

Ratings Action

Issuer
Southern California Home Fin Auth
Sector
Public Finance
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "S&P Corrects And Lowers Southern California Home Finance Authority's Series 1997C-1A And 1997C-1B To 'AA+'" Oct 05, 2009. Alacra Store. May 23, 2025. <http://www.alacrastore.com/s-and-p-credit-research/S-P-Corrects-And-Lowers-Southern-California-Home-Finance-Authority-s-Series-1997C-1A-And-1997C-1B-To-AA-750296>
  
APA:
S&P Global Ratings’ Credit Research. (). S&P Corrects And Lowers Southern California Home Finance Authority's Series 1997C-1A And 1997C-1B To 'AA+' Oct 05, 2009. New York, NY: Alacra Store. Retrieved May 23, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/S-P-Corrects-And-Lowers-Southern-California-Home-Finance-Authority-s-Series-1997C-1A-And-1997C-1B-To-AA-750296>
  
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