Summary: Los Angeles, California; Multifamily FNMA - S&P Global Ratings’ Credit Research

Summary: Los Angeles, California; Multifamily FNMA

Summary: Los Angeles, California; Multifamily FNMA - S&P Global Ratings’ Credit Research
Summary: Los Angeles, California; Multifamily FNMA
Published Jun 03, 2013
1286 words — Published Jun 03, 2013
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Abstract:

Standard&Poor's Ratings Services affirmed its 'AA+' long-term rating on Los Angeles' (Western/Carlton Apartments project) series 1999A Fannie Mae-collateralized multifamily housing revenue refunding bonds. The outlook is negative. The bonds are secured by a Fannie Mae pass-through certificate. The rating continues to reflect our view of: The sufficiency of revenues from mortgage debt service payments and investment earnings to pay full and timely debt service on the bonds until maturity; The extremely high credit quality of the assets consisting of a Fannie Mae pass-through certificate; The investments held in a 'AAAm' rated money market fund; and The 104.79% asset-to-liability ratio as of April 19, 2013. The rating also reflects the sovereign rating on the U.S. (AA+/Negative). Should the rating

  
Brief Excerpt:

RESEARCH Summary: Los Angeles, California; Multifamily FNMA Publication date: 03-Jun-2013 Primary Credit Analyst: Beatriz Peguero, New York 212-438-2164; beatriz.peguero@standardandpoors.com Secondary Contact: Ki Beom K Park, New...

  
Report Type:

Summary

Issuer
Los Angeles
Sector
Global Issuers, Public Finance
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Summary: Los Angeles, California; Multifamily FNMA" Jun 03, 2013. Alacra Store. May 16, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Los-Angeles-California-Multifamily-FNMA-1140287>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Los Angeles, California; Multifamily FNMA Jun 03, 2013. New York, NY: Alacra Store. Retrieved May 16, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Los-Angeles-California-Multifamily-FNMA-1140287>
  
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