NEW YORK (Standard&Poor's) May 21, 2008--Standard&Poor's Ratings Services assigned its 'AA+' rating to Pennsylvania Housing Finance Agency's $94 million series 2008-102A homeowner mortgage revenue bonds, $16.7 million series 2008-102B homeowner mortgage revenue bonds, and its 'AA+/A-1+' rating to the agency's $39 million series 2008-102C homeowner mortgage revenue bonds, and affirmed its ratings on all other series under the parity resolution. The outlook on the ratings above is stable. The ratings reflect very strong loss coverage protection provided by the agency's self-insurance fund covering estimated loan losses sufficient to support the rating level; very strong quality of the single-family mortgage collateral, including primarily conventional and FHA-insured mortgages; the general obligation (GO) pledge of the agency, which currently
