This report does not constitute a rating action. S&P Global Ratings' issuer credit rating (ICR) on the Massachusetts Housing Finance Agency (MassHousing) is 'AA-'. S&P Global Ratings? dual rating on MassHousing?s series 2018 variable-rate rental housing development bonds, issued for Mill Road Apartments, is ?AA-/A-1+?. The outlook is stable. An ICR reflects the obligor's general creditworthiness, focusing on the organization's capacity and willingness to meet financial commitments when they come due. The series 2018 variable-rate rental housing development bonds, issued for Mill Road Apartments, were remarketed in 2023 and are general obligations of MassHousing with a standby-bond purchase agreement (SBPA) from Royal Bank of Canada (AA-/A-1+/Stable). The long-term component of the 'AA-/A-1+' dual rating on the series 2018 bonds reflects
