...S&P Global Ratings revised the outlook to positive from stable and affirmed its '##' long-term rating and underlying rating (SPUR) as well as various dual ratings on the Massachusetts Housing Finance Agency's (MassHousing) housing bonds outstanding. At the same time, S&P Global Ratings assigned its '##' long-term rating to MassHousing's 2020 series D-1 and D-2 (collectively, the 2020 series D bonds) and 2020 series E housing bonds. The outlook is positive. The outlook revision reflects our view of the growing percentage of Federal Housing Administration (FHA)-insured loans in the portfolio and our anticipation that MassHousing's housing bond resolution will continue to perform in line with its very strong history. The outlook revision also reflects our view of the portfolio's continued minimal delinquencies, especially in light of the COVID-19 pandemic, and the resolution's projected increase in asset-to-liability parity, despite projected annual withdrawals from the resolution for working...
