SAN FRANCISCO (Standard&Poor's) April 30, 2009--Standard&Poor's Ratings Services lowered its ratings on Southern California Home Finance Authority's single-family mortgage revenue bonds, series 1996B-1A and B, series 1996C-1A and B, and series 1997A-1, to 'AA+' from 'AAA'. This action follows the downgrade of General Electric Capital Corporation to 'AA+/A-1+' from 'AAA/A-1+'. All of the affected issues receive partial support in the form of guaranteed investment contracts or investment agreements from General Electric Capital Corporation. Standard&Poor's considered the issues' reliance on the insurer's credit support. Should the authority act to replace or guarantee the existing agreements, or provide cash flows that demonstrate its ability to make bond payment obligations without relying on the interest earnings on
