NEW YORK (S&P Global Ratings) Oct. 29, 2024--S&P Global Ratings raised its long-term rating on California Housing Finance Agency's series 2023-1 class A and class X multifamily mortgage loan pass-through social certificates to 'BBB+ (sf)' from 'BBB (sf)'. The outlook is stable. "The upgrade reflects the improved loan portfolio performance for fiscal 2023 compared with the initial rating data from fiscal 2022, resulting in an improved coverage and liquidity assessment for the transaction," said S&P Global Ratings credit analyst Raymond Kim. The stable outlook reflects our view of the operating performance, financial strength, and asset quality of the mortgage collateral. The properties supporting the certificates have a track record of high occupancy and adequate net cash flow, which we expect
