Standard&Poor's Ratings Services assigned its 'AAA' rating to Georgia Housing and Finance Authority's (GHFA's) series 2015B-1 and 2015B-2 single-family mortgage bonds. At the same time, Standard&Poor's affirmed its 'AAA' rating on all debt under GHFA's single-family mortgage bond resolution (the 1976 general resolution). The outlook is stable. The 'AAA' rating reflects our view of: Economic stress cash flow scenarios run under various prepayment speeds, demonstrating sufficient loss coverage for a 'AAA' rating; The strong credit quality of the collateral securing the bonds--a mortgage pool with a high percentage of low loan-to-value (LTV) ratios and loans guaranteed by the Federal Housing Administration (FHA), Veterans Administration (VA), or Rural Housing Service (RHS)--which benefit from the full-faith-and-credit of the
