Standard&Poor's Ratings Services assigned its 'AA+/A-1+' rating to Pennsylvania Housing Finance Agency's (PHFA) series 2008-101A and B convertible option bonds (COB), and its 'AA+' rating to the agency's series 2008-101C homeowner mortgage revenue bonds. At the same time, Standard&Poor's affirmed its ratings on all other series under the parity resolution. The ratings reflect: Very strong financial performance of the resolution; Very strong loss coverage protection provided by the agency's self-insurance fund covering estimated loan losses sufficient to support the rating level; Very strong quality of the single-family mortgage collateral, including primarily conventional and FHA-insured mortgages; The GO pledge of the agency, which currently has a 'AA' issuer credit rating; and Investments commensurate with the rating on
