Pennsylvania Housing Finance Agency; Single Family Whole Loan Feb 11
Standard & Poors, February 2011
Abstract
Standard & Poor's Ratings Services has revised its outlook to negative from stable on Pennsylvania Housing Finance Agency (PHFA), based on the downward trend in the resolution's parity. 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 rating reflects our opinion of the following strengths: Very strong quality of the single-family mortgage collateral, primarily Federal Housing Administration (FHA)-insured, conventional insured, Rural Housing Services, Veterans Affairs, and uninsured 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;...
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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