Standard & Poor's Ratings Services said it has placed its AA-plus rating on California Statewide Communities Development Authority's (NoHo Senior Artists Colony) series 2009 A-7 (Ginnie Mae-collateralized) multifamily housing revenue bonds on CreditWatch with negative implications.
"This action follows repeated attempts by Standard & Poor's to obtain timely information of satisfactory quality to maintain our rating on the securities in accordance with our applicable criteria and policies," said Standard & Poor's credit analyst Aulii Limtiaco.
Failure to receive the requested information by Nov. 7, 2014, will likely result in suspension of the affected rating, preceded by any change to the rating that is considered appropriate given available information.
