...SAN FRANCISCO (Standard & Poor's) April 11, 2016--Standard & Poor's Ratings Services assigned its '##+' long-term rating to Tennessee Housing Development Agency's (THDA) residential finance program bonds, issues 2016-1A and 2016-1B, 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 2016-1 bonds. The outlook is stable. "The rating reflects our opinion of the 2013 general resolution's very strong credit protection for bondholders, as evidenced by, among other strengths, very strong cash flow projections, high-quality mortgage loans and investments, and a demonstrated ability to cover our projected loan losses," said Standard & Poor's credit analyst Jose Cruz. This is the seventh issue under THDA's 2013 general resolution, which was adopted Jan....
