NEW YORK (S&P Global Ratings) Feb. 1, 2022--S&P Global Ratings assigned its 'AA+' rating to Minnesota Housing Finance Agency's (MHFA) series 2022A and 2022B residential housing finance bonds, to be issued at about $99.9 million. At the same time, S&P Global Ratings affirmed its 'AA+' and 'AA+/A-1+' ratings on MHFA's related debt outstanding. The outlook is stable. The rating reflects our view of the following credit strengths: Very strong residential housing assets, with mortgage-backed securities (MBS) representing about 83% of mortgage assets; Cash flows demonstrating the program's ability to pay bondholders; and The agency's additional general obligation (GO) pledge that secures the bonds (with creditworthiness supported by a portfolio with high overall asset quality, strong and stable management, and strong
