S&P Global Ratings assigned its 'AA+' rating to California Housing Finance Agency's (CalHFA) roughly $50 million 2025 series A homeowner mortgage revenue bonds. The outlook is stable. The 2025 series A bonds are limited obligations of CalHFA, payable solely from, and secured by, revenue and assets pledged under the indenture. The bonds are the first series issued under the indenture, secured on parity with and entitled to the same benefit and security as other bonds issued under the indenture. Officials intend to use 2025 series A bond proceeds to finance single-family underlying loans indirectly through the acquisition of pass-through mortgage-backed securities (MBS)--issued by Ginnie Mae, Fannie Mae, or Freddie Mac--to finance loans providing third-lien downpayment and closing-cost assistance and pay
