TITLE

Towers Lean Negative

AUTHOR(S)
Shields, Yvette
PUB. DATE
April 2006
SOURCE
Bond Buyer;4/12/2006, Vol. 356 Issue 32359, p31
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Standard & Poor's Corp. has revised the outlook to negative from stable on the A rating assigned to Minneapolis' Section 8 assisted multi-family revenue bonds issued for the Nicollet Towers Project in 1996. According to the company's analyst, the revision reflects declining debt service coverage, contract rents above fair market rents, which limits the ability of the project to receive rental increases, and an increased expense ratio.
ACCESSION #
20517402

 

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