S&P Global Ratings assigned its 'AA+' long-term rating to Massachusetts Housing Finance Agency 's (MassHousing) roughly $283 million series 2025C and $25 million series 2025D housing bonds. At the same time, S&P Global Ratings affirmed its 'AA+' long-term rating and underlying rating (SPUR) and its 'AA+/A-1+' and 'AA+/A-1' dual ratings on MassHousing's existing debt within the housing bond resolution. The outlook is stable. NEW YORK (S&P Global Ratings) Nov. 14, 2025--S&P Global Ratings today took the rating actions listed above. We have analyzed the program's environmental, social, and governance (ESG) factors and opportunities relative to MassHousing's legal framework, program management and operational risk, asset pool's credit quality, cash flow analysis, liquidity, and market position. In our opinion, the program exhibits