Home Credit Ratings and Research S&P Global Ratings’ Credit Research Washington St Hsg Fin Comm

Summary: Washington St Hsg Fin Com; Housing, Multifamily FNMA

Published Oct 31, 2002

580 words — Published Oct 31, 2002

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Abstract:

The rating on Washington State Housing Finance Commission's bonds issued for Brittany Park, LLC is upgraded to 'AAA/A-1+' based on the substitution of a Fannie Mae direct pay credit enhancement facility for a bank letter of credit from U.S. Bank, N.A. ('A+/A-1') on Nov. 1, 2002. The rating reflects the extremely strong credit and liquidity enhancement of the bonds through the direct pay credit enhancement facility. Under the direct pay credit enhancement facility, Fannie Mae will make all regularly scheduled payments of principal and interest due on the bonds. Under this structure, the trustee is instructed to draw on Fannie Mae one-dayprior to each bond interest payment date; hence, there is no lag. The credit facility also covers amounts necessary

Brief Excerpt:

RESEARCH Summary: Washington St Hsg Fin Com; Housing, Multifamily FNMA Publication date: 31-Oct-2002 Credit Profile UPGRADED To From Washington St Hsg Fin Com, Washington Brittany Park, L.L.C., Washington $4.970 mil. Washington St Hsg...

Report Type:

Summary

Issuer

Washington St Hsg Fin Comm

Sector

Global Issuers, Public Finance

Country

United States

Region

United States

Format:

HTML

Summary: Washington St Hsg Fin Com; Public Finance Structured, Letter of Credit – 2002/11/15 – US$ 225.00

Summary: Washington St Hsg Fin Com; Housing, Multifamily GNMA – 2003/02/18 – US$ 225.00

Summary: Washington St Hsg Fin Com – 2003/03/21 – US$ 225.00

Summary: Washington St Hsg Fin Com; Housing, Multifamily GNMA – 2003/08/07 – US$ 225.00

Summary: Washington St Hsg Fin Com; Housing, Multifamily GNMA – 2003/11/12 – US$ 225.00

Summary: Washington St Hsg Fin Com; Housing, Single Family GNMA; Housing, Single Family Multiple MBS – 2002/05/31 – US$ 225.00

Summary: Washington St Hsg Fin Com; Housing, Fannie Mae Direct Pay – 2002/05/01 – US$ 225.00

Summary: Washington St Hsg Fin Com; Public Finance Structured, Letter of Credit – 2001/10/04 – US$ 225.00

Washington State Housing Finance Commission's Housing Revenue Bonds Rated 'AAA/A-1+' on LOC – 2001/10/03 – US$ 150.00

Summary: Washington St Hsg Fin Com; Housing, Single Family GNMA; Housing, Single Family Multiple MBS – 2001/06/05 – US$ 225.00

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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.

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MLA:	S&P Global Ratings’ Credit Research. "Summary: Washington St Hsg Fin Com; Housing, Multifamily FNMA" Oct 31, 2002. Alacra Store. May 12, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Washington-St-Hsg-Fin-Com-Housing-Multifamily-FNMA-273341>

APA:	S&P Global Ratings’ Credit Research. (). Summary: Washington St Hsg Fin Com; Housing, Multifamily FNMA Oct 31, 2002. New York, NY: Alacra Store. Retrieved May 12, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Washington-St-Hsg-Fin-Com-Housing-Multifamily-FNMA-273341>

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