Pennsylvania Housing Finance Agency; Single Family Whole Loan Sep 10
Standard & Poors, September 2010
Abstract
Standard & Poor's Ratings Services assigned its 'AA+' long-term rating to Pennsylvania Housing Finance Agency's (PHFA) series 2010-109, 2010-110A, and 2010-110B. At the same time, Standard & Poor's affirmed its ratings on all the other series under the parity resolution. The outlook is stable. The rating, in our opinion, reflects PHFA's: Very strong quality of the single-family mortgage collateral, including primarily conventional insured, RHS, and uninsured and FHA-insured mortgages; General obligation (GO) pledge of the issuer (AA); Investments commensurate with the rating on the bonds; Sufficient loss coverage protection provided by reserves and the GO pledge of the agency; and Funds in the self insurance fund (SIF) held by the trustee outside the lien of the indenture and pledged to...
Companies mentioned in this report are:
- Pennsylvania Hsg Fin Agy
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
- Pennsylvania Hsg Fin Agy
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