Standard&Poor's Ratings Services revised its rating on Pennsylvania Housing Finance Agency's (PHFA) single-family mortgage revenue bonds series 2004-85B, 2004-85C, and 2008-102C to 'AA+' from 'AA+/A-1'. In addition, we withdrew the long-term rating and underlying ratings (SPURs) on series 2005-87B, 2005-87C and 2005-90C at the request of the issuer. The rating actions on series 2004- 85B, 2004-85C, and 2008-102C are due to the termination of the existing irrevocable standby temporary credit and liquidity facility issued by Fannie Mae and Freddie Mac (the GSEs: 'AA+/A-1+') and the liquidity facility issued by Bank of America (A-A-1) for series 2008-102C. The bonds converted to an index rate period from the weekly variable rate mode on June 20, 2012. The long-term component of
