S&P rates Tenn. housing bonds AA

Standard & Poor's said it assigned an AA rating to Tennessee Housing Development Agency's $60 million of homeownership program bonds, series 2008-1A (AMT) and 2008-1B (non-AMT).

At the same time, S&P said it affirmed the AA standard long-term rating and AA underlying rating on the agency's outstanding bonds.

The outlook is stable.

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