Standard&Poor's Ratings Services assigned its 'AAA' rating to Georgia Housing and Finance Authority's (GHFA) $91.7 million series 2004B single-family mortgage revenue bonds. The rating reflects: The extremely strong credit quality of the collateral securing the bonds—a pool of mortgages consisting primarily of FHA-insured or VA-guaranteed loans, Fully funded reserves and sufficient liquidity, 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 under GHFA's 1976 general resolution, and are on parity with all other bonds in that resolution. Bond proceeds will be used primarily for the economic refunding of series 1993A and 1993B. In addition, a portion will be used for replacement
