Summary: Washington State Housing Finance Commission's Series 2007 Bonds Rating Lowered To 'A/A-1'; Letter of Credit - S&P Global Ratings’ Credit Research

Summary: Washington State Housing Finance Commission's Series 2007 Bonds Rating Lowered To 'A/A-1'; Letter of Credit

Summary: Washington State Housing Finance Commission's Series 2007 Bonds Rating Lowered To 'A/A-1'; Letter of Credit - S&P Global Ratings’ Credit Research
Summary: Washington State Housing Finance Commission's Series 2007 Bonds Rating Lowered To 'A/A-1'; Letter of Credit
Published Jul 21, 2011
1037 words — Published Jul 21, 2011
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Abstract:

Standard&Poor's Ratings Services lowered its rating on Washington State Housing Finance Commission's (Judson Park Project) variable-rate demand nonprofit revenue and refunding bonds series 2007 to 'A/A-1' from 'AA/A-1+'. The rating on the bonds reflects our opinion of the credit and liquidity support that Sovereign Bank provides for the bonds in the form of an irrevocable direct-pay letter of credit (LOC). The long-term component of the rating is based on the long-term component of the issuer credit rating on Sovereign Bank (A) and reflects full and timely payments of interest and principal when the bondholders have not exercised the put option. The short-term component of the rating is based on the short-term component of the issuer credit rating on

  
Brief Excerpt:

RESEARCH Summary: Washington State Housing Finance Commission's Series 2007 Bonds Rating Lowered To 'A/A-1'; Letter of Credit Publication date: 21-Jul-2011 Primary Credit Analyst: Santos Souffront, New York (1) 212-438-2197; santos_souffront@standardand...

  
Report Type:

Summary

Issuer
Washington St Hsg Fin Comm
Sector
Global Issuers, Public Finance
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Summary: Washington State Housing Finance Commission's Series 2007 Bonds Rating Lowered To 'A/A-1'; Letter of Credit" Jul 21, 2011. Alacra Store. May 05, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Washington-State-Housing-Finance-Commission-s-Series-2007-Bonds-Rating-Lowered-To-A-A-1-Letter-of-Credit-880258>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Washington State Housing Finance Commission's Series 2007 Bonds Rating Lowered To 'A/A-1'; Letter of Credit Jul 21, 2011. New York, NY: Alacra Store. Retrieved May 05, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Washington-State-Housing-Finance-Commission-s-Series-2007-Bonds-Rating-Lowered-To-A-A-1-Letter-of-Credit-880258>
  
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