...August 27, 2020 NEW YORK (S&P Global Ratings) Aug. 27, 2020--S&P Global Ratings assigned its '##+' long-term rating to Pennsylvania Housing Finance Agency's (PHFA) $170 million series 2020-133 (non-AMT) bonds. At the same time, S&P Global Ratings affirmed its '##+' long-term rating and underlying rating (SPUR) and its '##+/A-1' and '##+/A-1+' dual ratings on PHFA's previously issued debt under the single-family mortgage revenue bond resolution (the single-family resolution). The outlook is stable. The 2020-133 bond proceeds will be used to finance the purchase of new mortgage loans for single-family low- and moderate-income residences and pay issuance costs. "The '##+' rating reflects our opinion of PHFA's very strong single-family loan portfolio credit quality, cash flows demonstrating sufficient asset-to-liability parity, mortgage-payment and investment-earnings revenue that are sufficient to pay debt service and fees until maturity, and general obligation pledge on the bonds," said S&P...
