Minnesota Housing Finance Agency; General Obligation; Single Family Multiple MBS

S&P Global Ratings assigned its 'AA+' long-term rating to the Minnesota Housing Finance Agency's (MHFA, or the agency) $150 million 2022 series LMN residential housing finance bonds (RHFBs; social bonds). At the same time, S&P Global Ratings affirmed its 'AA+' long-term rating and 'AA+/A-1+' dual rating on the agency's previously issued residential housing finance bonds. The outlook is stable. The rating reflects the application of our "Methodology For Rating U.S. Public Finance Mortgage Revenue Bond Programs," published Oct. 10, 2022, on RatingsDirect. The rating is no longer under criteria observation. Bond proceeds, program obligations, investment obligations, revenue, and other assets held under the bond resolution secure the residential housing finance bonds. The bonds are also general obligations (GOs) of MHFA,

...(Editor's Note: We revised tables 3, 4, 5, and 6 in the original report, published Nov. 7, 2022, on RatingsDirect, to update the credit loss calculations as well as the net asset-to-liability parity. A corrected version follows.) Credit Profile...

Full Report