...February 16, 2024 NEW YORK (S&P Global Ratings) Feb. 16, 2024--S&P Global Ratings assigned its '##+' long-term rating to the Pennsylvania Housing Finance Agency's (PHFA) single-family mortgage revenue bonds (SF MRB) series 2024-144A (non-AMT) social bonds and 2024-144B (taxable) bonds. At the same time, we affirmed our '##+' long-term rating and '##+/A-1+' ratings on the agency's previously issued single-family mortgage revenue bonds. The outlook is stable. "The rating reflects our view of the program's legal framework, which links duties of key transaction parties with the program's proper execution, in alignment with our criteria, with no bankruptcy or other legal risks identified," said S&P Global Ratings credit analyst Shirley Murillo. The rating further reflects our view of the program's: - Program management and operational risk assessment, which we consider neutral overall; - Overcollateralization and cash flows capable of withstanding S&P Global Ratings-projected loss assumptions,...
