Home Credit Ratings and Research S&P Global Ratings’ Credit Research Minnesota Hsg Fin Agy

Summary: Minnesota Hsg Fin Agy; Housing, General Obligation

Published Jul 10, 2003

424 words — Published Jul 10, 2003

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Abstract:

The ratings on Minnesota Housing Finance Agency's (MHFA) bonds reflect: The GO pledge of MHFA ('AA+') and its top-tier status, Very strong financial performance and credit quality of the residential housing finance bond program, High levels of loan loss coverage provided by overcollateralization and a leveraged self-insurance fund, Cash flow strength, and Investments commensurate with the rating on the bonds. MHFA is drawing on a line of credit for $8.6 million to fund the 2003 series C bonds. Bond proceeds will be invested in overnight government securities held by the trustee until the series C maturity date of July 24, 2003. Excesses under the resolution provide sufficient proceeds to support payment of the series C bonds on the maturity date.

Brief Excerpt:

RESEARCH Summary: Minnesota Hsg Fin Agy; Housing, General Obligation Publication date: 10-Jul-2003 Credit Profile AFFIRMED $322.225 mil. Minnesota Hsg Fin Agy resid hsg fin bnds ser 2001 A-D, 2002 C-D, G, I-K ##+/A-1+ $193.225 mil. Minnesota...

Report Type:

Summary

Issuer

Minnesota Hsg Fin Agy

Sector

Public Finance

Country

United States

Region

United States

Format:

HTML

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MLA:	S&P Global Ratings’ Credit Research. "Summary: Minnesota Hsg Fin Agy; Housing, General Obligation" Jul 10, 2003. Alacra Store. May 23, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Minnesota-Hsg-Fin-Agy-Housing-General-Obligation-322573>

APA:	S&P Global Ratings’ Credit Research. (). Summary: Minnesota Hsg Fin Agy; Housing, General Obligation Jul 10, 2003. New York, NY: Alacra Store. Retrieved May 23, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Minnesota-Hsg-Fin-Agy-Housing-General-Obligation-322573>

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