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Summary: Pennsylvania Housing Finance Agency's Series 2002-74A And 2002-75A Bonds Rating Raised To 'AA+/A-1+'; Single Family Whole Loan
Standard & Poors
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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
Standard & Poor's Ratings Services raised the short-term component of its rating on Pennsylvania Housing Finance Agency's (PHFA) single-family mortgage revenue bonds series 2002-74A and 2002-75A to 'AA+/A-1+' from 'AA+/A-1', due to the substitution of the existing standby bond purchase agreement (SBPA) provided by Lloyds TSB Bank PLC (A+/A-1) with a SBPA provided by Barclays Bank PLC (AA-/A-1+). At the same time, Standard & Poor's affirmed its 'AA+/A-1+' on PHFA's single-family mortgage revenue bonds series 2003-77B and 2003-79B, due to the substitution of the existing SBPA provided by BNP Paribas (AA/A-1+) with a SBPA provided by Barclays Bank PLC (AA-/A-1+). The long-term component of the rating on series 2002-74A, 2002-75A, and 2003-77B is based on the credit strength of the...
Companies mentioned in this report are: Pennsylvania Hsg Fin Agy
Action: Outlook: Negative
Action: Outlook: Stable
Pennsylvania Hsg Fin Agy