Moody's rates Pa. housing bonds Aa2/VMIG1

Moody's Investors Service said it assigned an Aa2/VMIG1 rating to Pennsylvania Housing Finance Agency's $180.97 million of rental housing refunding bonds (section 8 assisted) 2008 series A, B, C and D (variable-rate demand obligations).

The issue includes $36.595 million of series 2008A, $37.145 million of 2008B, $53.525 million of 2008C and $53.525 million of 2008D.

The rating reflects a standby bond purchase agreement from Bank of America, NA.

Sale of the bonds was expected on May 5.

The outlook is stable.

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