Printer Friendly

HOWARD COUNTY (MD) HOUSING BONDS SERIES 1993 RATED 'A' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, July 8 /PRNewswire/ -- Howard County (MD)'s $13.8 million Series 1993A ($8.7 million) and 1993B ($5.1 million) Multifamily Housing Revenue Refunding Bonds (Eden Commons and Braeland Commons Projects) are rated 'A' by Fitch.
 The rating reflects strong debt service coverage of 1.70 times, the quality of the properties securing the bonds, and an initial $1,380,000 (10 percent) debt service reserve fund which will be reduced as the bonds amortize to a floor of twelve (12) months principal and interest (approximately $1,000,000).
 The proceeds of the bonds will be used to refund and redeem the issuer's Series 1982 Multifamily Rental Housing Revenue Bonds, which were issued to finance the development of the two projects.
 The Eden Commons project is a 232-unit garden-style multifamily complex located in Columbia, Maryland, midway between Baltimore and Washington, D.C. Current occupancy is 96 percent, with year-end 1991 occupancy at 95 percent and year-end 1992 occupancy at 94 percent. The Braeland Commons project is a 170-unit garden-style multifamily complex also located in Columbia, Maryland, less than one mile from Eden Commons. Current occupancy is 95 percent, with year-end 1991 occupancy at 96 percent and year-end 1992 occupancy at 94 percent.
 The properties contain in-unit amenities such as woodburning fireplaces, vaulted ceilings and washers and dryers, and common area amenities such as recreation buildings, fitness centers, tennis courts and saunas. The properties are well-maintained and have excellent access to both Baltimore and Washington, D.C.
 -0- 7/8/93
 /CONTACT: Kent Born of Fitch, 212-908-0627/


CO: ST: Maryland IN: SU: RTG

SH -- NY087 -- 9615 07/08/93 15:46 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 8, 1993
Words:273
Previous Article:WASHINGTON STATE LOTTERY EXTENDS AWI ON-LINE CONTRACT UNTIL 1996
Next Article:REGULAR DIVIDEND DECLARED FOR UNITED WATER RESOURCES


Related Articles
HOWARD CO. (MD.) GENERAL OBLIGATION BONDS RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
ANNE ARUNDEL CO. (MD.) $16.4 MILLION GO BONDS RATED 'AA+' BY FITCH -- FITCH FINANCIAL WIRE --
BALTIMORE CO. (MD) GENERAL OBLIGATION BONDS RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
HARFORD COUNTY (MD.) $6.6 MILLION GENERAL OBLIGATION REFUNDING BONDS RATED 'AA-' BY FITCH -- FITCH FINANCIAL WIRE --
WORCESTER COUNTY (MD) $3.4 MILLION G.O.'S RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --
VENTURA CO. (CALIF.) AREA HOUSING AUTHORITY 'CCC' BONDS ON FITCHALERT NEGATIVE -- FITCH FINANCIAL WIRE --
HARFORD COUNTY (MD) $45.6 MILLION GENERAL OBLIGATION BONDS RATED 'AA-' BY FITCH -- FITCH FINANCIAL WIRE --
HOWARD COUNTY, MD. BOND ANTICIPATION NOTES RATING REVISED -- FITCH FINANCIAL WIRE --
HOWARD COUNTY (Md.) BOND ANTICIPATION NOTES RATED 'F-1+/F-1+' BY FITCH -- FITCH FINANCIAL WIRE --
HOWARD COUNTY (MD.) $65 MILLION GENERAL OBLIGATION BONDS RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters