TITLE

Lack of Funds May Mean Default for 1981 Kansas City Housing Deal

AUTHOR(S)
Watts, Jim
PUB. DATE
August 2006
SOURCE
Bond Buyer;8/3/2006, Vol. 358 Issue 32437, p6
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the possible default for $4.9 million outstanding from $39.03 million of floating-rate single-family mortgage revenue bonds issued in June 1981 by Wyandotte County/Kansas City Unified Government because of insufficient funds. Standard & Poor's has lowered its ratings on the debt from B to CCC. According to Moody's, the revenue generated by interest from loans in the bond pool will not be sufficient to pay the debt service.
ACCESSION #
21888570

 

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