Fitch Rates Utah Housing's $35MM 2008 Series E Bonds (Business Wire)

Monday October 6, 3:25 pm ET NEW YORK--(BUSINESS WIRE)--Fitch Ratings has assigned the following ratings to Utah Housing Corporation's (the corporation) 2008 series E single-family mortgage bonds: -- $14 million class I variable-rate bonds 'AAA/F1+'; -- $16.1 million class I fixed-rate bonds 'AAA'; -- $2.1 million class II bonds 'AA'; -- $2.8 million class III bonds 'AA-'. The current offering is the 12th sale issued under a general trust indenture adopted by the corporation on May 1, 2007. The bonds are expected to close on Oct. 7, 2008. The bonds are being issued under a supplemental indenture that pledges mortgage revenues, investment earnings, reserves, and other trust funds to secure the bonds. Additionally, the class III bonds are secured by the corporation's general obligation (GO) pledge for payments of scheduled... [read full story]