The rating on Pennsylvania Housing Finance Agency's (PHFA) multifamily development bonds series 2000I is based on the GO pledge of the agency. PHFA has a 'AA' issuer credit rating from Standard&Poor's, reflecting: The agency's very strong asset base and good reserve position; Very strong financial performance, continued profitability, and stable equity levels; The very strong management team of the agency; An ability of the agency to demonstrate continued state support while exercising autonomy and independence; and The agency's ability to successfully meet its legislative mandate. PHFA's mandate is to finance mortgage loans for low-to-moderate income residents of the state, as evidenced by its asset base of approximately $3.67 billion, of which 76%, or $2.78 billion are mortgage loans.
