Georgia Housing and Finance Authority; Single Family Whole Loan

S&P Global Ratings assigned its 'AAA' ratings to the Georgia Housing and Finance Authority's (GHFA) 2018 series B single-family mortgage bonds. We also affirmed our '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: The strong credit quality of the collateral securing the bonds; the mortgage pool has a high percentage of 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 U.S. (AA+); Cash-flow scenarios run under various prepayment speeds, demonstrating sufficient excess assets after our loan-loss projections for a 'AAA' rating; The strong asset management

...S&P Global Ratings assigned its '###' ratings to the Georgia Housing and Finance Authority's (GHFA) 2018 series B single-family mortgage bonds. We also affirmed our '###' rating on all debt under GHFA's single-family mortgage bond resolution (the 1976 general resolution). The outlook is stable. The '###' rating reflects our view of: + The strong credit quality of the collateral securing the bonds; the mortgage pool has a high percentage of 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 U.S. (##+); + Cash-flow scenarios run under various prepayment speeds, demonstrating sufficient excess assets after our loan-loss projections for a '###' rating; + The strong asset management oversight GHFA provides in relation to its mortgage portfolio; and + The fully funded reserves and sufficient liquidity. GHFA's single-family mortgage bond resolution funds the authority's...

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