NEW YORK (S&P Global Ratings) May 7, 2025--S&P Global Ratings assigned its 'AA- (sf)' long-term rating to the California Municipal Finance Authority (CMFA)'s approximately $340.2 million series 2025-1 class A-1 municipal certificates and its 'BBB (sf)' long-term rating to CMFA's approximately $69.9 million series 2025-1 class A-2 municipal certificates. The outlook is stable. "The rating reflects our view of consistent operating performance of the underlying loans, as evidenced by S&P Global Ratings-calculated adjusted weighted-average debt service coverage of 1.25x and weighted-average occupancy exceeding 97% across the portfolio as of Dec. 30, 2024," said S&P Global Ratings credit analyst Musharrof Ahmed. The rating further reflects our view of the quality of the housing development associated with the loans, with expected continued
