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

Summary: Washington St Hsg Fin Comm; Public Finance Structured, Letter of Credit

Published Dec 16, 2004

576 words — Published Dec 16, 2004

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Abstract:

Standard&Poor's Rating Services assigned its 'AA-/A-1+' rating to the Washington State Housing Finance Commission's variable-rate demand multifamily housing revenue bonds, series 2004A and 2004B (taxable), issued on behalf of Deer Run West Limited Partnership, for the Deer Run West Apartments Project. The rating is based on an irrevocable direct-pay letter of credit (LOC) provided by Bank of America NA ('AA-/A-1+'). The LOC will provide payment for regularly scheduled principal and interest, as well as for unremarketed tendered certificates, for an amount equal to 34 days at a 12% maximum rate of interest in the daily and weekly interest rate mode. The bonds shall initially bear interest in a weekly rate mode. The bonds may also be converted to

Brief Excerpt:

RESEARCH Summary: Washington St Hsg Fin Comm; Public Finance Structured, Letter of Credit Publication date: 16-Dec-2004 Credit Profile US$6.27 mil multifam hsg rev bnds (Deer Run W. Apts Proj) ser 2004 A & B due 06/15/2037 ##-/A-1+ Sale...

Report Type:

Summary

Issuer

Washington St Hsg Fin Comm

Sector

Global Issuers, Public Finance

Country

United States

Region

United States

Format:

HTML

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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 Comm; Public Finance Structured, Letter of Credit" Dec 16, 2004. Alacra Store. May 07, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Washington-St-Hsg-Fin-Comm-Public-Finance-Structured-Letter-of-Credit-413522>

APA:	S&P Global Ratings’ Credit Research. (). Summary: Washington St Hsg Fin Comm; Public Finance Structured, Letter of Credit Dec 16, 2004. New York, NY: Alacra Store. Retrieved May 07, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Washington-St-Hsg-Fin-Comm-Public-Finance-Structured-Letter-of-Credit-413522>

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