S&P Global Ratings assigned its 'AAA' rating and stable outlook to Georgia Housing&Finance Authority's (GHFA) series 2017C and 2017D single-family mortgage bonds and affirmed its 'AAA' rating, with a stable outlook, on all debt under GHFA's single-family mortgage-bond resolution (the 1976 general resolution). The rating reflects our opinion of: The economic-stress cash-flow scenarios run under various prepayment speeds, demonstrating sufficient excess assets after our loan-loss projections for a 'AAA' rating; The strong credit quality of the collateral securing the bonds--a mortgage pool with a high percent of low loan-to-value (LTV) ratios and loans guaranteed by Federal Housing Administration (FHA); Veterans Administration (VA); or Rural Housing Service (RHS), which benefit from the full faith and credit of the U.S.;
