Standard&Poor's Ratings Services revised its outlook to positive from stable and affirmed its 'AA' long-term rating and underlying rating (SPUR) on Massachusetts Housing Finance Agency's (MassHousing) outstanding bonds, issued under its single-family housing revenue bonds (SFHRB) resolution. At the same time, Standard&Poor's assigned its 'AA' rating to the agency's SFHRB, series 178, 179, and 180. The positive outlook reflects our opinion of the following strengths: The very strong asset quality of the single-family loan portfolio, including a growing proportion of mortgage-backed securities (MBS) guaranteed by Fannie Mae; Very strong minimum parity of 113% (net of loan losses), as demonstrated in economic stress scenario cash flows that reflect fully funded loss coverage at the 'AA' level; Consistent
