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S&P rates Conn. housing bonds AAA, AAA/A-1+
Standard & Poor's said it assigned an AAA rating to the Connecticut Housing Finance Authority's housing mortgage finance program bonds, 2008 subseries A-1, A-2 and A-3, and an AAA/A-1+ rating to the authority's housing mortgage finance program bonds, 2008 subseries A-4 and A-5.
The issue includes $104.26 million of subseries A-1, $18.305 million of subseries A-2 (AMT), $1.385 million of subseries A-3 (federally taxable), $20 million of subseries A-4 (AMT, variable rate) and $100 million of subseries A-5 (federally taxable, variable rate).
Subseries A-4 and A-5 will be supported by a standby bond purchase agreement from JPMorgan Chase Bank, which is rated AA/A-1+.
S&P also affirmed the AAA underlying ratings on the authority's outstanding bonds.
The outlook is stable.
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