SAN FRANCISCO (Standard&Poor's) Nov. 4, 2011-- Standard&Poor's Ratings Services assigned its 'AA+' long-term rating to Tennessee Housing Development Agency's (THDA) $137.1 million series 2011-1A-C homeownership program bonds. At the same time, Standard&Poor's affirmed its 'AA+' long-term and underlying rating (SPUR) on the agency's outstanding debt that is on parity in the resolution. The outlook on all ratings is stable. "The rating reflects our view of the agency's very strong indenture cash flows and quality of the loan portfolio," said Standard&Poor's credit analyst Alexis Laing. "Further strengthening the rating in our view is the agency's limited exposure to loan loss recoveries associated with private mortgage insurance and quality investments," Ms. Laing added. The
