NEW YORK (Standard&Poor's) Feb. 26, 2010--Standard&Poor's Ratings Services assigned its 'AA+' long-term rating, with a stable outlook, to Pennsylvania Housing Finance Agency's (PHFA) series 2010-108A and 2010-108B. At the same time, Standard&Poor's affirmed its ratings on all the other series under the parity resolution. The rating, in our opinion, reflects PHFA's very strong quality of the single-family mortgage collateral, including primarily conventional insured, RHS, and uninsured and FHA-insured mortgages; general obligation (GO) pledge of the issuer (AA); investments commensurate with the rating on the bonds; sufficient loss coverage protection provided by reserves and the GO pledge of the agency; and funds in the Self Insurance Fund held by the trustee outside the lien of
