Pennsylvania Housing Finance Agency Single-Family Mortgage Revenue Bonds Assigned 'AA+' Rating

SAN FRANCISCO (S&P Global Ratings) Nov. 1, 2019--S&P Global Ratings assigned its 'AA+' long-term rating to the Pennsylvania Housing Finance Agency's (PHFA) series 2019-131A (non-alternative-minimum tax) and series 2019-131B (alternative-minimum tax) single-family mortgage revenue bonds, issued under PHFA's single-family parity indenture, (collectively, "the 2019-131 bonds"). At the same time, S&P Global Ratings affirmed its 'AA+' long-term rating and various dual ratings on bonds outstanding in the indenture. The outlook, where applicable, is stable. "The 'AA+' rating reflects our opinion of PHFA's very strong loan portfolio credit quality, cash flows demonstrating sufficient asset-to-liability parity, and mortgage-payment and investment-earnings revenue that are sufficient to pay debt service and fees until maturity," said S&P Global Ratings credit analyst Aulii Limtiaco. The 2019-131 bond

...November 1, 2019 SAN FRANCISCO (S&P Global Ratings) Nov. 1, 2019--S&P Global Ratings assigned its '##+' long-term rating to the Pennsylvania Housing Finance Agency's (PHFA) series 2019-131A (non-alternative-minimum tax) and series 2019-131B (alternative-minimum tax) single-family mortgage revenue bonds, issued under PHFA's single-family parity indenture, (collectively, "the 2019-131 bonds"). At the same time, S&P Global Ratings affirmed its '##+' long-term rating and various dual ratings on bonds outstanding in the indenture. The outlook, where applicable, is stable. "The '##+' rating reflects our opinion of PHFA's very strong loan portfolio credit quality, cash flows demonstrating sufficient asset-to-liability parity, and mortgage-payment and investment-earnings revenue that are sufficient to pay debt service and fees until maturity," said S&P Global Ratings credit analyst Aulii Limtiaco. The 2019-131 bond proceeds will be used, along with PHFA's contributed funds, to finance the purchase...

Ratings Action