Summary: Pennsylvania Housing Finance Agency; Single Family Whole Loan

S&P Global Ratings affirmed the 'A-1' short-term component of its 'AA+/A-1' rating on Pennsylvania Housing Finance Agency's series 2006-93B, 2007-98C, and 2007-100C single-family mortgage revenue bonds. The outlook is stable. The short-term component reflects our view of the standby-bond-purchase agreements (SBPAs) provided by Wells Fargo Bank N.A., substituting for prior SBPAs provided by Sumitomo Mitsui Banking Corp., effective Nov. 21, 2018. The long-term component of the rating reflects the rating on the underlying bonds secured by the open-parity indenture. The short-term component of the rating also reflects the lower of our ratings on the SBPA provider and the correlated short-term rating of the long-term rating on the underlying bonds. The new SBPA covers principal and 189 days' interest at a

...S&P Global Ratings affirmed the 'A-1' short-term component of its '##+/A-1' rating on Pennsylvania Housing Finance Agency's series 2006-93B, 2007-98C, and 2007-100C single-family mortgage revenue bonds. The outlook is stable. The short-term component reflects our view of the standby-bond-purchase agreements (SBPAs) provided by Wells Fargo Bank N.A., substituting for prior SBPAs provided by Sumitomo Mitsui Banking Corp., effective Nov. 21, 2018. The long-term component of the rating reflects the rating on the underlying bonds secured by the open-parity indenture. The short-term component of the rating also reflects the lower of our ratings on the SBPA provider and the correlated short-term rating of the long-term rating on the underlying bonds. The new SBPA covers principal and 189 days' interest at a maximum 12% annual rate for the purchase price of bonds not successfully remarketed. The SBPA covers bonds in the weekly interest-rate mode (the rated mode). During the rated mode, we believe...

Summary