Standard & Poor's Ratings Services assigned its 'A-1+' short-term rating, with a stable outlook, to Pennsylvania Housing Finance Agency's (PHFA) series 2010-2011 bonds. At the same time, Standard & Poor's affirmed its ratings on all the agency's other series under the parity resolution. The rating reflects our opinion of the following strengths: Very strong quality of the single-family mortgage collateral, including primarily conventional insured, RHS, and uninsured and Federal Housing Administration (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...
Companies mentioned in this report are:
- Pennsylvania Hsg Fin Agy
Action: New Rating
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