The ratings on Tennessee Housing Development Agency's homeownership program bonds are affirmed and reflect: Very strong credit quality of the single-family loan portfolio, Substantial financial strength of the bond resolution, Very strong adequacy of reserves for liquidity, Sufficient loss coverage in the form of excess assets, and High quality of investments. The homeownership program bond resolution was begun in 1985. All bonds in the resolution are on parity. The ratings on the resolution bonds are affirmed and new ratings are assigned to issues 2000-2A and 2000-2B, which total $110 million and will be used to make new single-family loans. In addition, ratings are assigned to issues 2000-2C and 2000-2D, which are notes being issued with a first optional call date
