Printer Friendly

IDAHO HOUSING AGENCY COMMERCIAL PAPER PROGRAM RATED 'F-1+' BY FITCH -- FITCH FINANCIAL WIRE --

IDAHO HOUSING AGENCY COMMERCIAL PAPER PROGRAM RATED 'F-1+' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Oct. 28 /PRNewswire/ -- Idaho Housing Agency's commercial paper program is rated "F-1+" by Fitch. Proceeds will provide funds for financing the purchase and holding of mortgage loans pending their transfer to one or more of the agency's single family mortgage bond programs.
 The rating reflects the program's limitations on the amount of paper that may be outstanding at any one time, as well as the added security provided by agency's general obligation pledge, favorable financial position, and good management record. Commercial paper outstanding cannot exceed the lesser of $100 million or the amount of permitted investments available in the agency's bond programs acquisition accounts. Additionally, the acquisition funds must be invested in high quality, liquid investments, specifically the GS Adjustable Rate Government Agency Fund, the Franklin Adjustable U.S. Government Securities Fund, or any other comparable investment approved by Fitch.
 Concern over the potential loss in either mutual fund's net asset value due to interest rate changes is adequately addressed by both the agency's general obligation pledge and management's policy of maintaining sufficient liquid assets in its operating or guaranty fund.
 The agency's June 30, 1992, financial statements reported net assets of $29.1 million in its bond compliance and guaranty fund. On a combined basis, net assets were $77.8 million, or 7.6 percent of total debt outstanding. Combined net operating revenue for the year was $6.2 million.
 -0- 10/28/92
 /CONTACT: Vincent J. Barberio of Fitch, 212-908-0505/ CO: Idaho Housing Agency ST: Idaho IN: SU: RTG


TS -- NY062 -- 5961 10/28/92 11:49 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 28, 1992
Words:275
Previous Article:EG&G BOARD INCREASES QUARTERLY DIVIDEND
Next Article:TWO ROLLS-ROYCE CRAFTSMEN TO DEMONSTRATE SKILLS AT LOCAL DEALER


Related Articles
FITCH WITHDRAWS GOTA BANK'S COMMERCIAL PAPER RATING -- FITCH FINANCIAL WIRE --
OXFORD FINANCE CO., INC. COMMERCIAL PAPER PROGRAM RATING WITHDRAWN BY FITCH -- FITCH FINANCIAL WIRE --
ALASKA HOUSING FINANCE CORP.'S $200 MILLION GENERAL HOUSING PURPOSE BONDS 'AA-' BY FITCH -- FITCH FINANCIAL WIRE --
MASSACHUSETTS $400 MILLION COMMERCIAL PAPER RATED 'F-1+' BY FITCH -- FITCH FINANCIAL WIRE --
MASSACHUSETTS $200 MILLION COMMERCIAL PAPER RATED 'F-1+' BY FITCH -- FITCH FINANCIAL WIRE --
IBM CORP. UNITS 'A' SENIOR DEBT AFFIRMED BY FITCH AFTER SALE ANNOUNCEMENT -- FITCH FINANCIAL WIRE --
Fitch IBCA Withdraws Reliance Acceptance Corp. Commercial Paper Rating - Fitch IBCA Financial Wire -
AHFC Begins Domestic Commercial Paper Program.

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