TITLE

S&P to Release 'Non-Coterminous' Section 8 Rating Criteria

AUTHOR(S)
Vadum, Matthew
PUB. DATE
June 2003
SOURCE
Bond Buyer;6/23/2003, Vol. 344 Issue 31662, p6
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Standard & Poor Corp.'s plans to publish rating criteria later this summer, cover Section 8 housing bond deals in which the underlying contract is scheduled to expire before the maturity date of bonds. Although such non-coterminous bond deals are fairly rare, they are expected to become more common as more long-term Section 8 rental housing subsidy contracts with the U.S. federal government are exhausted. As per the deal property owners who fail to meet their contractual obligations such as by maintaining the property in good physical condition may find their contracts terminated.
ACCESSION #
10125611

 

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