S&P Global Ratings affirmed its 'AA+' rating on Southern California Home Finance Authority's series 2009A-1 single-family housing revenue bonds. The bonds are secured by Ginnie Mae mortgage-backed securities (MBS). The outlook is stable. Rating factors include our opinion of: The sufficiency of revenues from mortgage debt service payments and investment earnings to pay full and timely debt service on the bonds until maturity; The high credit quality of Ginnie Mae MBS, which we consider 'AA+' eligible under our rating criteria; Extremely strong investment quality; and An asset-to-liability ratio of 103.21% as of May 10, 2016. The rating also reflects the sovereign rating on the U.S. (AA+/Stable). Should the U.S. sovereign rating be raised to 'AAA' and the bond program meets
