Georgia Housing and Finance Authority's $130.1 Million Single-Family Mortgage Bonds 2023 Series B Assigned 'AAA' Rating

SAN FRANCISCO (S&P Global Ratings) Sept. 26, 2023--S&P Global Ratings assigned its 'AAA' long-term rating to Georgia Housing and Finance Authority's (GHFA) $130.1 million single-family mortgage bonds (SFMBs) 2023 series B. At the same time, we affirmed our 'AAA' long-term rating on GHFA's SFMBs outstanding. The outlook is stable. "The rating reflects our view of the SFMB program's legal framework, program management and operational risk assessment, overcollateralization and cash flows, liquid reserves, and market position characteristics," said S&P Global Ratings credit analyst Aulii Limtiaco. The stable outlook reflects our view that the program will likely maintain its credit quality and that management will actively monitor the program's cash flow, while keeping asset-to-liability parity in line with the rating. While we

...September 26, 2023 SAN FRANCISCO (S&P Global Ratings) Sept. 26, 2023--S&P Global Ratings assigned its '###' long-term rating to Georgia Housing and Finance Authority's (GHFA) $130.1 million single-family mortgage bonds (SFMBs) 2023 series B. At the same time, we affirmed our '###' long-term rating on GHFA's SFMBs outstanding. The outlook is stable. "The rating reflects our view of the SFMB program's legal framework, program management and operational risk assessment, overcollateralization and cash flows, liquid reserves, and market position characteristics," said S&P Global Ratings credit analyst Aulii Limtiaco. The stable outlook reflects our view that the program will likely maintain its credit quality and that management will actively monitor the program's cash flow, while keeping asset-to-liability parity in line with the rating. While we view overcollateralization as very low, compared with both that of peers and with our loss assumptions, we expect net assets will remain sufficient...

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