Standard&Poor's Ratings Services affirmed its 'AA+' rating on Southern California Home Finance Authority's single-family mortgage revenue bonds series 1997C-1A and 1997C-1B. The bonds are secured by Ginnie Mae mortgage-backed securities. The rating reflects our view of the following: The extremely high credit quality, of the Ginnie Mae mortgage backed security; The sufficiency of revenues from mortgage debt service payments and investment earnings to pay full and timely debt service on the bonds until maturity; Extremely strong investment quality; and An asset-to-liability ratio of 137.82% as of July 21, 2009. The rating reflects the strong credit quality of the assets and credit support underlying the issue. All funds are held pursuant to a guaranteed investment contract with FGIC, which
