S&P Global Ratings assigned its 'AA+' long-term rating to Massachusetts Housing Finance Agency's (MassHousing, or the agency) single-family housing revenue bonds (SFHRBs), series 190 (non-AMT), 191 (AMT), and 192 (federally taxable). At the same time, S&P Global Ratings affirmed its 'AA+' long-term rating and underlying rating (SPUR) on MassHousing's SFHRBs outstanding. The outlook is stable. The rating reflects our opinion of: Consistent strengthening in the indenture's performance and equity position over the past two years; The very strong asset quality of the single-family loan portfolio, with 59% of the portfolio consisting of mortgage-backed securities (MBS) guaranteed by Fannie Mae; Strong parity of 116.9%, as demonstrated in economic stress scenario cash flows that reflect fully funded loss coverage at the 'AA'
