Standard&Poor's Ratings Services affirmed its 'AA+' issuer credit rating (ICR) on the Minnesota Housing Finance Agency (MHFA). The 'AA+' ratings on its related debt were also affirmed, reflecting the financial strength of the agency and its solid overall operations. General credit strengths include: Very strong financial performance, marked by strong capital adequacy ratios, which increased significantly due to recent financial restructuring; Excellent overall asset quality with prudent oversight; Extremely capable and proactive management; Ongoing state support for the agency's operations and mission; and The state's generally strong economic position. These strengths serve to mitigate the moderately high risk of the agency's asset base comprised mostly of single-family and multifamily whole loans. The agency's loan portfolio has experienced dramatic
