...October 24, 2023 NEW YORK (S&P Global Ratings) Oct. 24, 2023--S&P Global Ratings assigned its '##-/A-1+' rating to the series 2018 variable rate rental housing development bonds issued for Mill Road Apartments, which Massachusetts Housing Finance Agency (MassHousing) plans to remarket on Nov. 1, 2023. At the same time, S&P Global Ratings affirmed its '##-' issuer credit rating (ICR) on MassHousing. The outlook is stable. "Specifically, the long-term rating on the ICR and series 2018 remarketed bonds reflects our view of MassHousing's financial strength, above-average asset quality, below-average profitability, strong liquidity, and very strong and proactive management team," said S&P Global Ratings credit analyst David Greenblatt. MassHousing maintains a low-risk asset base, conservative debt profile with minimal variable-rate exposure, stable equity ratios, and sufficient liquidity to meet short-term needs. Key credit ratios are in line with those of '##-' peers but weaker than those of...
