Summary: Virginia Housing Development Authority; General Obligation; Multifamily Whole Loan - S&P Global Ratings’ Credit Research

Summary: Virginia Housing Development Authority; General Obligation; Multifamily Whole Loan

Summary: Virginia Housing Development Authority; General Obligation; Multifamily Whole Loan - S&P Global Ratings’ Credit Research
Summary: Virginia Housing Development Authority; General Obligation; Multifamily Whole Loan
Published May 07, 2021
7 pages (2650 words) — Published May 07, 2021
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

S&P Global Ratings assigned its 'AA+' long-term rating to Virginia Housing Development Authority's (Virginia Housing) 2021 series D tax-exempt, Non-AMT rental housing bonds. At the same time, we affirmed our 'AA+' long-term rating on Virginia Housing's previously issued debt under the rental housing bond resolution. The outlook on all debt under Virginia Housing rental housing bond resolution is positive. Virginia Housing's pledge of the rental housing bond resolution and its assets secures the 2021 series D bonds, as does a general obligation (GO) pledge of the authority. The rating reflects our analysis of both revenue streams according to our criteria "Methodology: Rating Approach To Obligations With Multiple Revenue Streams," published Nov. 29, 2011, on RatingsDirect. Both pledges are of equal

  
Brief Excerpt:

...S&P Global Ratings assigned its '##+' long-term rating to Virginia Housing Development Authority's (Virginia Housing) 2021 series D tax-exempt, Non-AMT rental housing bonds. At the same time, we affirmed our '##+' long-term rating on Virginia Housing's previously issued debt under the rental housing bond resolution. The outlook on all debt under Virginia Housing rental housing bond resolution is positive. Virginia Housing's pledge of the rental housing bond resolution and its assets secures the 2021 series D bonds, as does a general obligation (GO) pledge of the authority. The rating reflects our analysis of both revenue streams according to our criteria "Methodology: Rating Approach To Obligations With Multiple Revenue Streams," published Nov. 29, 2011, on RatingsDirect. Both pledges are of equal credit quality according to our analysis. Virginia Housing anticipates issuing approximately $32.195 million of 2021 series D bonds, the total proceeds of which will fund two mortgage loans. Virginia...

  
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Summary

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Public Finance
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MLA:
S&P Global Ratings’ Credit Research. "Summary: Virginia Housing Development Authority; General Obligation; Multifamily Whole Loan" May 07, 2021. Alacra Store. Mar 28, 2024. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Virginia-Housing-Development-Authority-General-Obligation-Multifamily-Whole-Loan-2643689>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Virginia Housing Development Authority; General Obligation; Multifamily Whole Loan May 07, 2021. New York, NY: Alacra Store. Retrieved Mar 28, 2024 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Virginia-Housing-Development-Authority-General-Obligation-Multifamily-Whole-Loan-2643689>
  
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