Standard&Poor's Ratings Services assigned its 'AAA' rating to Georgia Housing and Finance Authority's (GHFA) single-family mortgage revenue bonds series 2004A bonds. The rating reflects: The extremely strong credit quality of the collateral securing the bond--a pool of mortgages consisting primarily of FHA-insured or VA-guaranteed loans, Fully funded reserves and sufficient liquidity, Very high credit quality of insurance supporting the mortgages, The extremely strong credit quality of the investments, and Cash flow sufficiency demonstrating ample loss coverage protection at the 'AAA' level. The bonds are being issued to acquire new mortgage loans, effect a small refunding, and pay the cost of issuance associated with the bonds. Acquisition fund proceeds will be deposited in an investment agreement with a provider
