Dallas (Standard&Poor's) Oct. 25, 2005--Standard&Poor's Rating Services assigned its 'AA' rating to Tennessee Housing Development Agency's $100 million homeownership program bonds, series 2005-2A and 2005-2B. The sale date is October 25. In addition, Standard&Poor's affirmed its 'AA' rating and 'AA' underlying rating (SPUR) on the agency's outstanding bonds. "The bond resolution has improved significantly over time; the strong performance and asset quality of this resolution make it a candidate for a higher rating, which could be possible if investments and insurance providers are sufficiently rated," said Standard&Poor's credit analyst Jeanie Yarbrough. The 'AA' rating reflects very strong credit quality of the single-family loan portfolio, with about 85% of the loans insured by
