Pennsylvania Housing Finance Agency Outlook Revised To Negative From Stable; Series 2011-112 Revenue Bonds Rated 'AA+' Feb 11

Standard & Poors, February 2011

Abstract
NEW YORK (Standard & Poor's) Feb. 28, 2011--Standard & Poor's Ratings Services has revised its outlook to negative from stable on Pennsylvania Housing Finance Agency (PHFA). Standard & Poor's also assigned its 'AA+' long-term rating to PHFA's series 2011-112 revenue bonds, and affirmed its ratings on all the agency's other series under the parity resolution. "The outlook revision is based on the downward trend in the resolution's parity," said Standard & Poor's credit analyst Valerie White. The rating reflects our opinion of the very strong quality of PHFA's single-family mortgage collateral, primarily Federal Housing Administration (FHA)-insured, conventional insured, Rural Housing Services, Veterans Affairs, and uninsured mortgages. Also supporting the rating is the general obligation (GO) pledge of the issuer ('AA');...

Companies mentioned in this report are:
- Pennsylvania Hsg Fin Agy

Action: Affirmed
Action: New Rating
Action: Outlook: Negative

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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

- Pennsylvania Hsg Fin Agy

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