TITLE

Montgomery County, Md., Housing Debt Upgraded

AUTHOR(S)
Newman, Emily
PUB. DATE
April 2003
SOURCE
Bond Buyer;4/15/2003, Vol. 344 Issue 31615, p6
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Moody's Investors Service upgraded its rating to A2 from A3 on approximately $ 30 million in outstanding parity debt issued under the Montgomery County Housing Opportunities Commission's Multifamily Mortgage Revenue Bond program, Maryland. Moody's analyst Portia Lee said the bonds are issued under open parity, &ldquo.which means that the bonds are secured by all assets and revenues on a combined basis. ”The upgrade reflects the healthy asset-to-debt position of the program, together with sufficient insurance coverage on the multifamily projects and satisfactory performance of the properties.
ACCESSION #
9766446

 

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