Massachusetts Housing Finance Agency Revenue Bonds Assigned 'AA' Rating

SAN FRANCISCO (S&P Global Ratings) Nov. 29, 2016--S&P Global Ratings assigned its 'AA' long-term rating to the Massachusetts Housing Finance Agency's (MassHousing) single-family housing revenue bonds (SFHRB), series 185 and 186. At the same time, we affirmed our 'AA' long-term rating and underlying rating (SPUR) on the agency's bonds previously issued under its SFHRB resolution. The outlook is positive. "The rating reflects our opinion of the very strong asset quality of the single-family loan portfolio, consistent strengthening in the indenture's equity position, sufficient reserves to provide liquidity for delinquent mortgage loans, and continuing strong oversight and management consistency," said S&P Global Ratings credit analyst Aulii Limtiaco. MassHousing will use these bond proceeds to finance approximately $60 million in new mortgage

...SAN FRANCISCO (S&P Global Ratings) Nov. 29, 2016--S&P Global Ratings assigned its '##' long-term rating to the Massachusetts Housing Finance Agency's (MassHousing) single-family housing revenue bonds (SFHRB), series 185 and 186. At the same time, we affirmed our '##' long-term rating and underlying rating (SPUR) on the agency's bonds previously issued under its SFHRB resolution. The outlook is positive. "The rating reflects our opinion of the very strong asset quality of the single-family loan portfolio, consistent strengthening in the indenture's equity position, sufficient reserves to provide liquidity for delinquent mortgage loans, and continuing strong oversight and management consistency," said S&P Global Ratings credit analyst Aulii Limtiaco. MassHousing will use these bond proceeds to finance approximately $60 million in new mortgage loans either through the purchase of mortgage-backed securities (MBS) that are backed by such mortgage loans or through the direct purchase of whole...

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