Standard&Poor's Ratings Services raised its rating on Pennsylvania Housing Finance Agency's (PHFA) single-family mortgage revenue bonds series 2006-93B, 2006-95C, 2007-98C, 2007-99C, and 2007-100C to 'AA+/A-1+' from 'AA+/A-1' due to the substitution of the existing standby bond purchase agreement (SBPA) provided by Dexia Credit Local (A/A-1) with a SBPA provided by JPMorgan Chase Bank N.A. (AA-/A-1+). The outlook is negative. The long-term component of the rating is based on our opinion of the credit strength of the parity resolution. The short-term component of the rating is based on the rating on the SBPA provider. The facility is expected to cover the purchase price of tendered bonds in the event of a failed remarketing at the maximum rate for 35
