Pennsylvania Housing Finance Agency; Single Family Whole Loan Sep 08
- ID: 1755899
- September 2008
- Region: Pennsylvania
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'AA+' rating to Pennsylvania Housing Finance Agency's (PHFA) series 2008-103A, 2008-103B, and 2008-103C homeowner mortgage revenue bonds, and affirmed the rating on all other series under the parity resolution. The rating reflects: Very strong loss coverage protection provided by the agency's self-insurance fund covering estimated loan losses sufficient to support the rating level; Very strong quality of the single-family mortgage collateral, including primarily conventional and FHA-insured mortgages; The general obligation (GO) pledge of the agency, which currently has a 'AA' issuer credit rating; Investments commensurate with the rating on the bonds; and Funds in the Self Insurance Fund (SIF) held by the trustee but pledged to the resolution. The strengths are offset by...
Companies mentioned in this report are:
- Pennsylvania Hsg Fin Agy
Action: New Rating
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Research Type: Full Analysis