S&P Rates Portland,OR's Multifam Hsg Rev Bonds 'AAA' - S&P Global Ratings’ Credit Research

S&P Rates Portland,OR's Multifam Hsg Rev Bonds 'AAA'

S&P Rates Portland,OR's Multifam Hsg Rev Bonds 'AAA' - S&P Global Ratings’ Credit Research
S&P Rates Portland,OR's Multifam Hsg Rev Bonds 'AAA'
Published Oct 15, 1998
Published Oct 15, 1998
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Abstract:

NY -- Standard&Poor's CreditWire 10/15/98 – Standard&Poor's today assigned its triple-'A' rating to Portland, Ore.'s multifamily housing revenue bonds (Yards At Union Station, Phase B Project) series 1998 dated Oct. 1, 1998. The bonds are scheduled to sell Oct. 22, 1998. The rating reflects: -- FNMA credit enhancement of the mortgage backing the bonds through a collateral agreement and mortgage-backed security (MBS) guarantee; -- Triple-'A' rated investments; and -- Cash flows evidencing the full and timely payment of debt service and program fees. Bond proceeds will be used to fund a $23 million mortgage that is backed by an FNMA collateral agreement upon closing on the bonds. FNMA pledges under the collateral agreement to cover missed

  
Report Type:

Ratings Action

Issuer
Portland
Sector
Global Issuers, Public Finance
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "S&P Rates Portland,OR's Multifam Hsg Rev Bonds 'AAA'" Oct 15, 1998. Alacra Store. May 22, 2025. <http://www.alacrastore.com/s-and-p-credit-research/S-P-Rates-Portland-OR-s-Multifam-Hsg-Rev-Bonds-AAA-59775>
  
APA:
S&P Global Ratings’ Credit Research. (). S&P Rates Portland,OR's Multifam Hsg Rev Bonds 'AAA' Oct 15, 1998. New York, NY: Alacra Store. Retrieved May 22, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/S-P-Rates-Portland-OR-s-Multifam-Hsg-Rev-Bonds-AAA-59775>
  
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