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NIFA |
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The CHFA and NIFA programs offer mortgage loans with below-market interest rates to LMI first-time homebuyers. NIFA is a bankruptcy remote issuer, and the bond structure grants a first perfected security interest in sales tax revenues, which provide strong debt service coverage, even under stress tests. Fitch Ratings assigns a 'AA+' rating to the Nassau County Interim Financing Authority, NY (NIFA or the authority) approximately $444 million sales tax secured bonds, series 2004A, and a 'AA+' rating to NIFA $400 million sales tax secured variable rate bonds, series 2004B-G (auction rate securities). |
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