Bond Rating Information
Standard & Poor's confirmed the "AAA' rating for the Homeownership Mortgage Bonds. South Dakota's stable economy was cited for the strength of the program, along with high borrower equity and strong oversight by the housing authority.
Loss covereage is "well above the amount necessary to cover potential losses," according to the model used by Standard & Poor's for its AAA rating criteria. The fully funded reserves provide ample liquidity.
- Standard & Poor's Public Finance New Issue Review, June 11, 2004
The Authority's Multiple Purpose bonds have a Aaa rating from Moody's Investor Service.
"We believe that SDHDA's staff adds an additional degree of credit security to bondholders by ensuring continuing financial and loan portfolio maintenance... The outlook for the program is stable due to the Authority's strong financial position and projected growth."
- Moody's Investor Service, June 2004
