...SAN FRANCISCO (Standard & Poor's) May 12, 2015--Standard & Poor's Ratings Services assigned its '##+' long-term rating to Tennessee Housing Development Agency's (THDA) residential finance program bonds, issues 2015-1A, 2015-1B, and 2015-1C, issued under THDA's 2013 General Residential Finance Program Bond Resolution (the 2013 general resolution). Also, Standard & Poor's affirmed its '##+' rating on the other outstanding bonds issued under the 2013 general resolution, all of which are on parity with each other as well as with the issue 2015-1 bonds. The outlook is stable. "The rating reflects our view of very strong resolution cash flows showing minimum asset-liability parity of 112.6%, a single-family whole-loan portfolio of very strong credit quality, sufficient liquid reserves, very high-quality investments; and legal provisions and program management consistent with the rating on the bonds," said Standard & Poor's credit analyst Jose Cruz. This is the fifth issue under THDA's 2013 general...
