Ailing Apartments

DeSue, Tedra
January 2005
Bond Buyer;1/6/2005, Vol. 351 Issue 32044, p27
Trade Publication
The article reports that Standard & Poor's Corp. on Monday downwardly revised its outlook to negative from stable on $8.8 million of bonds sold by the South Carolina State Housing Finance and Development Authority for several apartment complexes due to declining debt service coverage. Standard & Poor's analyst Christopher Moriarty said debt service coverage for the bonds' has been declining since the fiscal year ended December 31, 2000. Average gross rental income for fiscal 2003 decreased by 3%, to $520 per unit per month.


Related Articles

  • N.Y. Thruway Authority's Outlook Lowered by S&P.  // Bond Buyer;9/27/2007, Vol. 361 Issue 32722, p33 

    The article reports on the announcement of Standard & Poor's Corp. that it has revised its outlook on the New York State Thruway Authority to negative. It relates that the revision was propelled by recent traffic declines and wearing of the authority's debt service coverage levels. Moreover,...

  • Texas County Offers Bailout to Detention Center Debt Holders. Albanese, Elizabeth // Bond Buyer;11/30/2004, Vol. 350 Issue 32019, p52 

    The article reports on government actions about defaulted lease-revenue bonds in Texas County, Oklahoma. Investors who hold $5.14 million of defaulted lease-revenue bonds issued to finance a juvenile detention center in Kerr County, Texas, are considering a $1.75 million offer from the county to...

  • Housing Northwest Revs Lowered by S&P.  // Bond Buyer;5/11/2005, Vol. 352 Issue 32130, p2 

    The article reports that Standard & Poor's Corp. said it lowered its rating to BBB-minus from BBB on the Oregon Facilities Authority's series 2002A revenue bonds, issued for Housing Northwest Inc. (HNW), due to thin debt service coverage and declining demand. Standard & Poor's credit analyst...

  • Shelby Drops to BB. DeSue, Tedra // Bond Buyer;3/3/2005, Vol. 351 Issue 32082, p31 

    The article reports that Standard & Poor's Corp.'s bonds have downgraded to BB from BBB. According to Standard & Poor's analyst Ryan Fitzpatrick, there was a drop in net operating income in 2003 and 2004, resulting in debt service coverage of 1.06 times and 1.10 times, respectively. The...

  • Housing Bonds Deep-Junked. DeSue, Tedra // Bond Buyer;8/31/2006, Vol. 357 Issue 32457, p35 

    The article reports on the down-grade of Standard & Poor's rating for the Atlanta Urban Residential Finance Authority in Georgia. Atlanta Urban Residential Finance Authority has received negative outlook by the agency because of its multifamily housing bonds issued at $5.5 million of Series...

  • S&P Cool on Housing. DeSue, Tedra // Bond Buyer;4/15/2004, Vol. 348 Issue 31863, p29 

    Reports that Standard & Poor's has took rating action on several housing bond. Downgrade debyt issued by the Atlanta Urban Residential Finance Authority and the DeKalb County Housing Authority; Assessment of Atlanta, Georgia multifamily bonds; Debt service coverage ratios at yearend 2003.

  • New Mexico Hospital's Outlook Negative After Reorganization. Williamson, Richard // Bond Buyer;11/25/2013, Vol. 122 Issue 34017, p1 

    The article reports that the financial rating provider Standard & Poor's ratings Services has offered a negative outlook to its non-investment-grade rating of B-plus on Gerald Champion Regional Medical Center in Alamogordo, New Mexico. It mentions that negative outlook has been offered due to...

  • With S&P AAA, San Antonio Readies $179M. Williamson, Richard // Bond Buyer;12/1/2008, Vol. 366 Issue 33013, p4 

    The article reports that San Antonio will issue $179 million of notes and bonds representing the city's last deal in 2008 in Texas. It is said that the city is one of several large issues coming from Texas issuers, including Dallas Independent School District. It is also said that the city will...

  • S&P Upgrades 46 Texas Counties Due to Growth, Low Debt. Williamson, Richard // Bond Buyer;12/1/2008, Vol. 366 Issue 33013, p6 

    The article reports that Standard & Poor's Corp. (S&P) has elevated 46 Texas counties that are growing small debt loads in a weakening economy. It is said that these counties have shown worthy of a higher rating because of their stable financial positions, coupled with low debt burdens. Some of...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics