...S&P Global Ratings assigned its '##' long-term rating to the Massachusetts Housing Finance Agency's (MassHousing) 2018 series C housing revenue bonds. At the same time, S&P Global Ratings affirmed its '##' long-term rating and various short-term ratings on MassHousing's main multifamily housing revenue bond resolution. The outlook is stable. The '##' rating reflects our view of MassHousing's: + Extremely strong government support, reflecting ongoing support in the form of low-income housing tax credits, Federal Housing Administration (FHA) risk-share mortgage insurance, federal and state rental subsidies, property tax exemptions, and tax-exempt bond financing; + Very strong strategy and management and financial policies and practices; + Very strong loss coverage, based on the resolution's high overcollateralization; + Solid financial strength of its housing revenue bond resolution, reflecting our calculation of the pool's weighted average debt service coverage (DSC) of 2.1x, weighted average...
