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Summary: Pennsylvania Housing Finance Agency Series 2004-83B, 2004-83C, 2004-84D, 2004-86B, 2005-89, And 2005-91B Bonds Ratings Lowered To 'AA+/A-1'; Single Family Whole Loan Feb 12 Product Image

Summary: Pennsylvania Housing Finance Agency Series 2004-83B, 2004-83C, 2004-84D, 2004-86B, 2005-89, And 2005-91B Bonds Ratings Lowered To 'AA+/A-1'; Single Family Whole Loan Feb 12

  • ID: 2084937
  • February 2012
  • Region: Pennsylvania
  • Standard & Poors

FEATURED COMPANIES

  • Pennsylvania Hsg Fin Agy
  • MORE

Abstract
Standard & Poor's Ratings Services lowered its ratings on Pennsylvania Housing Finance Agency's single-family mortgage revenue bonds series 2004-83B, 2004-83C, 2004-84D, 2004-86B, 2005-89, and 2005-91B to 'AA+/A-1' from 'AA+/A-1+'. At the same time, Standard & Poor's withdrew its underlying ratings (SPURs) on series 2004-83B, 2004-83C, 2004-84D, 2004-86B, 2005-89, and 2005-91B. The outlook is negative. These rating actions are due to the substitution of the existing irrevocable standby temporary credit and liquidity facility issued by Fannie Mae and Freddie Mac (the GSEs: 'AA+/A-1+') with a standby bond purchase agreement (SBPA) provided by The Bank of Tokyo-Mitsubishi UFJ Ltd. (A+/A-1). The 'AA+' long-term component of the rating on the series 2004-83B, 2004-83C, 2004-84D, 2004-86B, 2005-89, and 2005-91B bonds is based on our...

Companies mentioned in this report are: Pennsylvania Hsg Fin Agy
Action: Downgraded

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