Summary: Illinois Fin Auth; Housing, Single Family Multiple MBS - S&P Global Ratings’ Credit Research

Summary: Illinois Fin Auth; Housing, Single Family Multiple MBS

Summary: Illinois Fin Auth; Housing, Single Family Multiple MBS - S&P Global Ratings’ Credit Research
Summary: Illinois Fin Auth; Housing, Single Family Multiple MBS
Published Jul 29, 2004
912 words — Published Jul 29, 2004
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Standard&Poor's Rating Services assigned its 'AA-' rating to Illinois Finance Authority's $50 million single-family mortgage revenue bonds series 2004. The rating reflects: Extremely strong underlying collateral in the form of 'AAA' eligible Ginnie Mae or Fannie Mae MBS, which cover the principal portion of the bonds; A swap agreement with SunTrust Bank (AA-/Stable/A-1+) covering the interest portion of the bonds mitigating exposure of the variable rate on the bonds; and Sun Trust ('AA-') is the lowest rated coverage provider. Bond proceeds will be used to originate new single-family mortgages. The bonds are being issued on a forward delivery basis in multiple subseries over the course of the origination period, which extends to Oct. 1, 2007. Once loans are

  
Brief Excerpt:

RESEARCH Summary: Illinois Fin Auth; Housing, Single Family Multiple MBS Publication date: 29-Jul-2004 Credit Profile US$50. mil sin fam mtg rev bnds (Opportunity: Home Ownership Prog) ser 2004 due 02/01/2038 ##- Sale date: 29-JUL-2004...

  
Report Type:

Summary

Issuer
Illinois Finance Authority
Sector
Global Issuers, Public Finance, Structured Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
Buy Now

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Summary: Illinois Fin Auth; Housing, Single Family Multiple MBS" Jul 29, 2004. Alacra Store. May 22, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Illinois-Fin-Auth-Housing-Single-Family-Multiple-MBS-387695>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Illinois Fin Auth; Housing, Single Family Multiple MBS Jul 29, 2004. New York, NY: Alacra Store. Retrieved May 22, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Illinois-Fin-Auth-Housing-Single-Family-Multiple-MBS-387695>
  
US$ 225.00
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Residential Mortgage-Backed Securities from one place.