Fitch assigns AA+ to Florida Housing bonds

Fitch Ratings said it assigned an AA+ rating to the $66 million 2008 series 2 homeowner mortgage revenue bonds issued by the Florida Housing Finance Corp.

The bonds are expected to be sold through negotiation this week and are expected to close on July 29.

Proceeds will be used to continue the corporation's single-family first-time homebuyer program by purchasing Ginnie Mae, Freddie Mac and Fannie Mae mortgage-backed securities.

Fitch also affirmed the AA+ rating on the $1.6 billion homeowner mortgage revenue bonds outstanding as of April 30, 2008 prior to consideration of any bond insurance.

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