Massachusetts Housing Finance Agency Series 2023C, 2023D Housing Revenue Bonds Rated 'AA+'; Outlook Stable

NEW YORK (S&P Global Ratings) Nov. 14, 2023--S&P Global Ratings assigned its 'AA+' rating to Massachusetts Housing Finance Agency's (MassHousing) roughly $195.925 million series 2023C and roughly $2.2 million series 2023D housing revenue bonds. The outlook is stable. At the same time, S&P Global Ratings affirmed its 'AA+' long-term rating and underlying rating (SPUR), 'AA+/A-1+' rating, and 'AAA/A-1+' rating on MassHousing's existing debt within the housing-bond resolution. The outlook is stable. "We could lower the rating or revise the outlook to negative if MassHousing's credit quality were to deteriorate and projected losses were to increase; if overcollateralization were to weaken; or if MassHousing were to withdraw funds from the resolution in accordance with bond provisions, such that overcollateralization is insufficient

...November 14, 2023 NEW YORK (S&P Global Ratings) Nov. 14, 2023--S&P Global Ratings assigned its '##+' rating to Massachusetts Housing Finance Agency's (MassHousing) roughly $195.925 million series 2023C and roughly $2.2 million series 2023D housing revenue bonds. The outlook is stable. At the same time, S&P Global Ratings affirmed its '##+' long-term rating and underlying rating (SPUR), '##+/A-1+' rating, and '###/A-1+' rating on MassHousing's existing debt within the housing-bond resolution. The outlook is stable. "We could lower the rating or revise the outlook to negative if MassHousing's credit quality were to deteriorate and projected losses were to increase; if overcollateralization were to weaken; or if MassHousing were to withdraw funds from the resolution in accordance with bond provisions, such that overcollateralization is insufficient to withstand projected losses at the current level," said S&P Global Ratings credit analyst David Greenblatt. "We could raise the rating or revise...

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