Standard&Poor's Ratings Services has assigned its 'AAA' long-term rating to Georgia Housing and Finance Authority's (GHFA) single-family mortgage bonds series 2012A. At the same time, Standard&Poor's affirmed its 'AAA' long-term rating on the Single-Family Mortgage Bonds Resolution (General Resolution). The outlook is stable. The 'AAA' long-term rating reflects our view of: Economic stress scenario cash flows under various prepayment speeds, demonstrating, in our view, that there is currently sufficient loss coverage at the 'AAA' rating level; The strong credit quality of the collateral securing the bonds -- a pool of mortgages consisting of a high percentage of low loan-to-value (LTV) ratio and Federal Housing Administration (FHA)-, Veterans Administration (VA)-, or Rural Housing Service-guaranteed loans, which benefit
