Standard&Poor's Ratings Services assigned its 'AAA' long-term rating to Georgia Housing and Finance Authority's (GHFA) single-family mortgage revenue bonds series 2011A. At the same time, Standard&Poor's affirmed its 'AAA' rating on GHFA's parity resolution. The outlook is stable. The ratings reflect our opinion of: The extremely strong credit quality of the collateral securing the bonds--a pool of mortgages consisting primarily of FHA-insured or VA-guaranteed loans; Fully funded reserves and sufficient liquidity; Very strong credit quality of the investments; Cash flow sufficiency demonstrating ample loss coverage protection at the 'AAA' level; and Sufficient loss coverage in the form of excess assets. Georgia is issuing the proceeds for the 2011A bond deal in what the Government-Sponsored Enterprises (GSEs)
