June 22, 2020 2020-XL0140 Pennsylvania Housing Finance Agency's series 2020-132A single-family mortgage revenue bonds (nonalternative-minimum tax) Wells Fargo Bank N.A. Loop Capital Markets LLC Wells Fargo Bank N.A. S&P Global Ratings assigned the above-mentioned ratings to the floater and residual receipts (collectively the receipts), reflecting its opinion of the likelihood the trust will have sufficient assets to pay timely interest and full principal when due on the receipts. Trust assets include all distributions of principal; interest; and premiums, if any, from the underlying securities and the liquidity facility, which is in place to support tender payments on the floaters. The long-term component of our rating on the floaters reflects the ratings on the underlying securities and addresses full and timely
