...S&P Global Ratings assigned its '##+' long-term rating to Pennsylvania Housing Finance Agency's (PHFA) $170 million series 2020-133 (non-AMT) bonds. At the same time, S&P Global Ratings affirmed its '##+' long-term rating and underlying rating and its '##+/A-1' and '##+/A-1+' dual ratings on PHFA's previously issued debt under the single-family mortgage revenue bond resolution (the single-family resolution). The outlook is stable. The 2020-133 bond proceeds will be used to finance the purchase of new mortgage loans for single-family low- and moderate-income residences and pay issuance costs. The 2020-133 bonds will bear interest--payable semiannually on Oct. 1 and April 1, starting Oct. 1, 2020--at fixed rates until maturity, subject to redemption as described in the official statements. PHFA established the bond indenture in 1982, and all bonds in the indenture, which total approximately $2.9 billion, are on parity. As of March 31, 2020, PHFA had purchased a total of 146,363 mortgage loans...
