Pennsylvania Housing Finance Agency 'A+' Rating Removed From CreditWatch Negative; Outlook Stable

NEW YORK (Standard&Poor's) April 13, 2015--Standard&Poor's Rating Services affirmed its 'A+' rating on Pennsylvania Housing Finance Agency's (PHFA) capital fund security revenue bonds series 2005A, issued on behalf of a pool of seven participating local housing authorities in the state of Pennsylvania, and removed the rating from CreditWatch with negative implications. The outlook is stable. "Removal of the rating from CreditWatch reflects our receipt of information we had requested from PHFA officials to maintain the rating," said Standard&Poor's credit analyst Raymond Kim. The CreditWatch placement was due to inadequate information needed to maintain the rating. Subsequent to the CreditWatch placement on Dec. 31, 2014, we received information needed to conduct our review, in accordance

...NEW YORK (Standard & Poor's) April 13, 2015--Standard & Poor's Rating Services affirmed its 'A+' rating on Pennsylvania Housing Finance Agency's (PHFA) capital fund security revenue bonds series 2005A, issued on behalf of a pool of seven participating local housing authorities in the state of Pennsylvania, and removed the rating from CreditWatch with negative implications. The outlook is stable. "Removal of the rating from CreditWatch reflects our receipt of information we had requested from PHFA officials to maintain the rating," said Standard & Poor's credit analyst Raymond Kim. The CreditWatch placement was due to inadequate information needed to maintain the rating. Subsequent to the CreditWatch placement on Dec. 31, 2014, we received information needed to conduct our review, in accordance with our criteria. The rating reflects our view of: + The strong security of pledged federal public housing modernization funds (the capital fund) that PHFA receives annually from HUD; + Bond debt...

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