Summary: Connecticut Housing Finance Authority; General Obligation Equivalent Security

S&P Global Ratings assigned its 'AA-' long-term rating, and negative outlook, to Connecticut Housing Finance Authority's state-supported special obligation bonds, series 18, series 19, series 20, series 21 (AMT), and series 22 (federally taxable). We base our rating on the authority's bonds on our rating on the state of Connecticut's general obligation (GO) debt (AA-/Negative) and security provided by the state's special needs housing capital reserve fund. The series 18-21 bonds and state program bonds outstanding will be paid first from either group home owners from rental payments made by residents who received funding and reimbursement payments for room and board from the state Department of Social Services, or by assisted living facility owners from rental subsidy payments made by

...S&P Global Ratings assigned its '##-' long-term rating, and negative outlook, to Connecticut Housing Finance Authority's state-supported special obligation bonds, series 18, series 19, series 20, series 21 (AMT), and series 22 (federally taxable). We base our rating on the authority's bonds on our rating on the state of Connecticut's general obligation (GO) debt (##-/Negative) and security provided by the state's special needs housing capital reserve fund. The series 18-21 bonds and state program bonds outstanding will be paid first from either group home owners from rental payments made by residents who received funding and reimbursement payments for room and board from the state Department of Social Services, or by assisted living facility owners from rental subsidy payments made by the Department of Housing. To the extent these payments are not sufficient, the bonds are secured by the special needs housing capital reserve fund established under Section 8-258(b) of the General Statutes...

Summary