Bangkok--25 Jun--Standard & Poor's
Standard & Poor's Ratings Services corrected and lowered its rating on Idaho Housing and Finance Association's Ginnie Mae collateralized housing revenue bonds (Mallard Pointe Project) series 1999A to 'AA+' from 'AAA'. This issue receives partial credit support in the form of an investment agreement (IA) with FGIC Capital Market Services Inc. which is guaranteed by General Electric Capital Corp. (AA+/A-1+) for the life of the bonds. We incorrectly did not lower the rating on the bonds contemporaneously with our March 12, 2009, downgrade of General Electric Capital Corp. to 'AA+/A-1+' from 'AAA/A-1+' (please see "General Electric Co. And Units Long-Term Ratings Lowered To 'AA+'; Outlook Stable", RatingsDirect, March 12, 2009).
Media Contact:
Ana Sandoval, New York (1) 212-438-5095, [email protected]
Analyst Contacts:
Renee J Berson, New York (1) 212-438-7966
Lawrence Witte, San Francisco (1) 415-371-5037