ICR: 'AA' Outlook: Stable Location: Harrisburg, Pa. Founded: 1972 Debt programs: Single-family, multifamily, risk retention fund, other supportive programs Agency contacts: Brian A. Hudson, deputy executive director, 503-986-2000 Pennsylvania Housing Finance Agency's (PHFA) 'AA' ICR rating reflects: The agency's very strong asset base and good reserve position; Very strong financial performance, continued profitability, and stable equity levels; The very strong management team; The ability of the agency to demonstrate continued state support while exercising autonomy and independence; and The agency's ability to successfully meet its legislative mandate. PHFA's mandate is to finance mortgage loans for low- to moderate-income residents of the state, as evidenced by its asset base of approximately $3.47 billion, of which 76%, or $2.63 billion, are mortgage
