OREANDA-NEWS. Fitch Ratings affirms the Idaho Housing and Finance Association's (IHFA) taxable commercial paper program general obligation notes, bank secured series (the notes) at 'F1'.

The rating action is in connection with the (i) increase in the commitment amount of the Revolving Credit Agreement (RCA) provided by Barclays Bank PLC (Barclays; rated 'A/F1', Stable Outlook) supporting the notes to an aggregate principal amount not exceeding \\$50,000,000 from an aggregate principal amount not exceeding \\$25,000,000; and (ii) extension of the expiration date of the RCA to May 20, 2016, unless such date is extended or the RCA is earlier terminated.

KEY RATING DRIVERS

The 'F1' rating on the notes is affirmed based on the continued external liquidity support provided by the Barclays RCA and also the internal liquidity support of the IHFA.

The amended RCA, effective Sept. 30, 2015, provides a commitment to cover an aggregate principal amount not exceeding \\$50,000,000. IHFA is obligated to pay interest due on the maturity of the notes. For information on IHFA's long-term 'A+', Stable Outlook general obligation rating and the underlying short-term 'F1' rating for IHFA, see Fitch's press releases dated June 24, 2014 and May 6, 2015 respectively, available at www.fitchratings.com.

U.S. Bank National Association is replacing Deutsche Bank Trust Company Americas as the Issuing and Paying Agent (IPA) for the notes. Barclays Capital Inc. will continue to serve as dealer for the notes.

RATING SENSITIVITIES

The rating reflects the short-term rating that Fitch maintains on the bank providing liquidity support and will be adjusted upward or downward in conjunction with changes to the short-term rating of the bank and in some cases, the long-term term general obligation rating of the IHFA.